Williams Company computed its cost per equivalent unit for direct materials to be $2.00 and its cost per equivalent unit for conversion to be $3.55. A total of 399,000 units of product were completed and transferred out as finished goods during the month. The ending Work in Process inventory consists of 24,000 equivalent units of direct materials and 24,000 equivalent units of conversion costs.
The amount that should be reported in ending Work in Process Inventory is $.

$133,200

Explanation:

Given that,

Cost per equivalent unit for direct materials = $2.00

Cost per equivalent unit for conversion = $3.55

Units of product were completed and transferred out as finished goods = 399,000

Ending equivalent units of direct materials = 24,000

Ending equivalent units of conversion costs = 24,000

Amount that should be reported in ending work in process inventory

= cost of material + conversion cost

= (24,000 x $2.00) + (24,000 x $3.55)

= $48,000 + $85,200

= $133,200

Note:

As the percentage of completion information regarding the ending work in process inventory is not given in the question. And, it is given that the ending work in process equivalent units for conversion cost and direct material is the same.