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

question 264

Multiple Choice

Raider 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 Molding Department's cost per equivalent unit for conversion cost for January was $3.39. How much conversion cost was assigned to the ending work in process inventory in the Molding Department for January?

• A) $22,126.70
• B) $33,561.00
• C) $26,848.80
• D) $6,712.20

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Definitions:

Amortization

The process of spreading out a loan or intangible asset cost over a specified period of time.

Installment Notes

Long-term debts that are paid back in regular, periodic payments over time, which include both the principal and interest.

Journal Entries

Records of financial transactions in order by date, used in accounting.

Retirement

The act of leaving one's job and ceasing to work, typically upon reaching a certain age, often associated with receiving pension or retirement benefits.