timekeeper inc. manufactures clocks on a highly automated assembly line. its costing system uses two cost categories, direct materials and conversion costs. each product must pass through the assembly department and the testing department. direct materials are added at the beginning of the production process. conversion costs are allocated evenly throughout production. timekeeper inc. uses weighted-average costing. data for the assembly department for june 2015 are: work in process, beginning inventory 300 units direct materials (100% complete) conversion costs (50% complete) units started during june 950 units work in process, ending inventory: 150 units direct materials (100% complete) conversion costs (75% complete) costs for june 2015: work in process, beginning inventory: direct materials $90,000 conversion costs $135,000 direct materials costs added during june $600,000 conversion costs added during june $400,000 what is the total amount debited to the work-in-process account during the month of june?

The cost is the sum of money that a business spends on the development or manufacturing of goods or services.
It excludes the profit margin markup. The sum of money spent to create a good or product, as seen from the seller's perspective, is the cost.

First Determine the Number of Units transferred out of the Process

Hint : Units IN must equal Units OUT

Number of Units transferred out = 380+950-150

= 1,180

Determine the Equivalent Units for direct materials and conversion costs

Direct materials :

Completed and Transferred Out ( 1,180× 100%) = 1180

Ending Work In Process Inventory( 150 × 100%) = 150

Total = 1,330

Conversion costs :

Completed and Transferred Out ( 1,180× 100%) = 1,180

Ending Work In Process Inventory( 150 × 80%) = 120

Total = 1,300

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