The Lakeside Company Uses a Weighted-Average Process Costing System -
Cost Per Equivalent Unit of Materials Is:
A) $2

question 18

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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Cost per equivalent unit of materials is:

• A) $2.20.
• B) $2.07.
• C) $1.85.
• D) $1.76.

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Definitions:

Coinsurance Clause

A provision in an insurance policy that requires the policyholder to bear a portion of the loss in proportion to the coverage amount, encouraging them to insure the property to its full value.

Fire Damage

The destruction or harm caused to property, structures, or objects by fire.

Insurance Company

An entity that provides financial protection and compensation for losses or damages in exchange for payment of premiums.

Coinsurance Coverage

A type of insurance in which the insured pays a share of the payment made against a claim.