Paceheco Corporation Uses the Weighted-Average Method in Its Process Costing

question 329

Multiple Choice

Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January. The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,958 and a total of $559,654 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to:

• A) $9.543
• B) $9.864
• C) $9.744
• D) $8.499

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Definitions:

Modernization Theory

Holds that economic underdevelopment results from poor countries lacking Western attributes, including Western values, business practices, levels of investment capital, and stable governments.

Development Theory

An extensive category of theories that seek to explain the processes, strategies, and mechanisms by which societies progress economically, socially, and politically.

Global Spending Priorities

The allocation and distribution of financial resources across various sectors globally, influenced by economic policies, societal needs, and international agreements.

Collectivism

A value system that emphasizes the importance of the group over individual achievements, promoting shared goals and responsibilities within a community.