Answer:
$78,000
Explanation:
For calculating the cost of the ending work in process
To begin, we will calculate the material cost per unit.
Material cost per unit = $220,000 / (40,000+15,000)
Material cost per unit= $220,000 / 55,000
Material cost per unit= $4
Next is to find the conversion cost per unit
Conversion cost per unit= $414,000 / (40,000 + (15,000*40%)
Conversion cost per unit= $414000 / 46000
Conversion cost per unit= $9
Now, it’s time to calculate the total cost per equivalent unit
Total cost per equivalent unit= $4 + $9
Total cost per equivalent unit= $13
Then, the equivalent unit of the ending work in process
Equivalent unit of the ending work in process= 15,000 × 40%
Equivalent unit of the ending work in process= 6,000
Finally, we calculate the cost of the ending work in process
Cost of the ending work in process = 6,000 × $13
Cost of the ending work in process = $78,000
Thus, the cost of the ending work in process is $78,000
