David Katz' Assembly Department Has Materials Cost at $3 Per

question 99

Multiple Choice

David Katz' Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit.There are 9,000 units in ending Work in Process, all of which are 70% complete as to conversion costs and fully complete as to direct materials.How much are total costs to be assigned to inventory if the weighted-average method is used?

• A)$37,800
• B)$64,800
• C)$56,700
• D)$81,000

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Definitions:

Intangible Assets

Non-physical assets owned by a firm, such as copyrights, patents, trademarks, and goodwill, that have value and can generate future economic benefits.

Balance Sheet

An accounting document that lists a business's assets, liabilities, and the equity of its shareholders at a specific date.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net assets, representing the company's reputation, customer relationships, and other unquantifiable factors.

Internally Generated

Assets or resources that are created within an organization, without acquiring them from external sources.