Question

In March, one of the processing departments at A Corporation had beginning work in process inventory of $40,000 and ending work in process inventory of $18,000. During the month, $300,000 of costs were added to production. In the department's cost reconciliation report for March, the total cost to be accounted for would be:

Answer 1

The total cost to be accounted for in the department's cost reconciliation report for March would be $340,000, calculated by summing the beginning inventory of $40,000 and the costs added during the month of $300,000.

Step-by-step explanation:

The total cost to be accounted for in A Corporation's processing department for March would be the sum of the beginning work in process inventory and the costs added during the month. Therefore, we calculate this as:

Beginning work in process inventory + Costs added to production = Total cost to be accounted for

$40,000 + $300,000 = $340,000

This figure represents the total costs that the department needs to account for within the given month.