The Richmond Corporation Uses the Weighted-Average Method in Its Process

question 343

Multiple Choice

The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 21,200 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $3.55 for materials and $5.05 for labor and overhead, the total cost assigned to the ending work in process inventory was:

• A) $182,320
• B) $109,392
• C) $118,084
• D) $139,496

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Definitions:

Melanocytes

Cells in the skin and hair follicles responsible for the production and distribution of melanin, giving skin and hair their color.

Light-Skinned

A term describing a human skin type that has a lighter pigmentation, often due to genetics and geographical ancestry.

Melanin

A pigment that gives the skin, hair, and eyes their color, and helps protect the skin against damage from ultraviolet radiation.

Stratum Corneum

The outermost layer of the epidermis, comprised of dead skin cells that provide a barrier against environmental damage.