Smith Manufacturing Uses the Weighted Average Process Costs Method Units Still in Process at the End of the Period

question 12

Multiple Choice

Smith Manufacturing uses the weighted average process costs method.Smith has provided the follow data: $$\begin{array} { l r r r } & \text { Total Units/Cost } & \text { Material } & \text { Conversion } \\\hline \text { Beginning inventory } & 25,000 & & \\\text { Units started during period } & 175,000 & & \\\text { Units completed during period } & 185,000 & & \\\text { Costs from beginning inventory } & \$ 641,250 & \$ 561,250 & \$ 80,000 \\\text { Costs incurred during period } & \$ 6,868,750 & \$ 4,038,750 & \$ 2,830,000\end{array}$$ Units still in process at the end of the period are 100% complete as to material and 60% complete as to conversion.What is the cost per equivalent unit for conversion costs?

• A)$24.18
• B)$34.34
• C)$15.00
• D)$14.55
• E)$15.29

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Definitions:

Incorrect Medication

The accidental administration of the wrong drug or dose to a patient, potentially leading to adverse effects or harm.

Incident Report

A form or document filed following an unusual or unforeseen event in a healthcare setting to improve safety and care.

Untoward Effects

Unexpected, adverse, or harmful effects resulting from a medical treatment or procedure.

Risk Management

The process of identifying, assessing, and mitigating risks to minimize their impact on an organization, particularly relevant in healthcare to improve patient safety.