The Weighted-Average Process-Costing Method Adds the Cost of All Work

question 30

Multiple Choice

The weighted-average process-costing method adds the cost of all work done in the current period to _____.

• A)work done in the preceding period to the current period's beginning work-in-process inventory
• B)the ending work-in-process inventory
• C)all costs estimated to be incurred in the next department
• D)the work done in the preceding department to the current period's ending work-in-process inventory

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Definitions:

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Net Sales

The amount of sales revenue remaining after deducting returns, allowances for damaged or missing goods, and discounts.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period of time, resulting in a net profit or loss.

Budgeted Amounts

Estimated financial figures planned for a certain period, including revenues and expenses.