The Lakeside Company Uses a Weighted-Average Process Costing System -
Equivalent Units of Production for Materials Are:
A) 16,000

question 151

Multiple Choice

The Lakeside Company uses a weighted-average process costing system. The following data are available:
$$\begin{array} { l r } \text { Beginning inventory } & - 0 - \\\text { Units started in production } & 20,000 \\\text { Units finished during the period } & 16,000 \\\text { Units in process at the end of the period } & \\\text { (complete as to materials, } & 4,000 \\1 / 4 \text { complete as to labor and overhead) } & \\\text { Cost of materials used } & \$ 35,200 \\\text { Labor and overhead costs } & \$ 37,400\end{array}$$

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Equivalent units of production for materials are:

• A) 16,000.
• B) 17,000.
• C) 19,000.
• D) 20,000.

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Definitions:

Commercial Activities

Business operations or actions that are directly related to the exchange of goods, services, or anything of value between businesses or entities.

Foreign State

A country or nation other than the one where a legal judgment or action is being considered or taken.

Federal Courts

Rephrase: Courts established under the U.S. Constitution that have jurisdiction over disputes involving federal laws, interstate matters, and other cases as specified by law.

Expropriation

The action of a government taking private property for public use, often with compensation to the owner.