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:

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Precision

The degree to which repeated measurements under unchanged conditions show the same results.

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A stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

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