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

question 85

Multiple Choice

Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,600 units. The costs and percentage completion of these units in beginning inventory were: A total of 9,300 units were started and 8,200 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.The cost per equivalent unit for materials for the month in the first processing department is closest to:

• A) $16.16
• B) $14.63
• C) $14.03
• D) $12.89

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Definitions:

Calories

A measure of energy in food, technically defined as the amount of heat needed to raise the temperature of one kilogram of water by one degree Celsius.

Scatter Diagram

A graphical representation of data points for two variables in a dataset, used to investigate the possible relationship between them.

Interval Data

A type of numerical data that represents quantities and for which intervals between values are meaningful, allowing for a range of mathematical operations.

Scatter Diagram

A graph used to visually display and assess the relationship between two variables by plotting data points.