(solution) The May 1 work in process inventory consisted of 109,000 pounds

(solution) The May 1 work in process inventory consisted of 109,000 pounds

The May 1 work in process inventory consisted of 109,000 pounds with $168,950 in materials cost and $107,910 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 80% complete with respect to conversion. During May, 299,000 pounds were started into production. The May 31 inventory consisted of 99,000 pounds that were 100% complete with respect to materials and 60% complete with respect to conversion. The company uses the weighted-average method to account for units and costs.