Garcia Company Uses the Weighted Average Method in Its Costing

question 38

Multiple Choice

Garcia Company uses the weighted average method in its costing system. For the month of May in the Assembly Department, the equivalent units for conversion costs amounted to 35,000. There were 5,000 units in beginning work-in-process that were 50% complete. During the month, 33,000 units were started and 31,400 were completed and transferred. The ending work in process consists of

• A) 5,000 units.
• B) 7,000 units.
• C) 3,600 units.
• D) 6,600 units.

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Definitions:

Numerical Ability

The capacity to reason, solve problems, and work with numbers; includes basic arithmetic skills, statistical analysis, and the ability to identify relationships between numbers.

Factor Analysis

A statistical method used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.

IQ Scores

Quantitative measures of a person's intelligence relative to that of others, typically normalized to a scale where the average score is set to 100.

Chronological Age

The measure of an individual's age based on the calendar date of their birth, often used as a general indicator of physical and developmental stages.