Final answer:
The cost of the ending work in process inventory would be the quantity of unfinished units multiplied by the latest period's unit price. Assuming 5 unfinished units in Period 4, the cost would be $17.50. The cost of units transferred out would be the sum of amounts spent in all periods, which totals to $256.00.
Step-by-step explanation:
To determine the cost of ending work in process inventory and the cost of units transferred out of the department during June, we'll need to consider the quantities and prices at which the products are produced within different periods. While specific details on the inventory method are not provided, we'll use the information given to illustrate how this might be done in a typical manufacturing scenario.
Let's consider the periodic prices and amounts spent:
Period 1 Price: $3.00, Amount Spent: $60.00
Period 2 Price: $3.20, Amount Spent: $64.00
Period 3 Price: $3.10, Amount Spent: $62.00
Period 4 Price: $3.50, Amount Spent: $70.00
By dividing the amount spent in each period by the price per unit in that period, we can find the quantity of units produced in each period:
Period 1 Quantity = $60.00 / $3.00 = 20 units
Period 2 Quantity = $64.00 / $3.20 = 20 units
Period 3 Quantity = $62.00 / $3.10 = 20 units
Period 4 Quantity = $70.00 / $3.50 = 20 units
To calculate the ending work in process inventory, we would identify how many units were in progress at the end of Period 4 and multiply by the price at that time. If we assume that 5 units were unfinished, then:
Ending Work in Process Inventory = 5 units x $3.50 = $17.50
Similarly, to calculate the cost of units transferred out, we would add up the cost of all units completed during June (assuming no beginning inventory). If all 80 units produced were completed and transferred out, the cost would be the total amount spent:
Cost of Units Transferred Out = $60.00 + $64.00 + $62.00 + $70.00 = $256.00