Miramar, Inc

question 20

Multiple Choice

Miramar, Inc. uses a weighted-average process costing system which recognizes normal spoilage as 5% of good output. During the current period, 14,000 units were started and 10,000 units completed. Materials are added at the beginning of the process, conversion costs occur uniformly, and the inspection point is at the 70% point. Beginning work in process was 6,000 units, 40% complete, and ending work in process 9,000 units, 80% complete. The cost per equivalent unit for material was $1.00 and for conversion costs $3.00.
The cost of ending work in process was:

• A) $31,995
• B) $30,600
• C) $31,334
• D) $31,547

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Definitions:

Branded

Marked by the distinctive identity or characteristic of a specific brand, often through logos, colors, or designs.

Bought

Acquired through the exchange of money for goods or services, often used in the context of media, where advertising space is purchased.

Imaginative Experiences

Engagements or activities that encourage creativity and invention, often allowing individuals to explore new ideas or worlds.

Power

The ability or capacity to do something or act in a particular way, often implying the control or influence over others.