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

question 188

Multiple Choice

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,500 units were started and 5,900 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 conversion costs for the first department for the month is closest to:

• A) $30.99
• B) $35.92
• C) $33.12
• D) $34.21

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Definitions:

Territory Acquisition

The process or act of obtaining new lands or jurisdictions, often through purchase, conquest, annexation, or treaty, to expand the geographical bounds or influence of a state or nation.

Polk

James K. Polk, the 11th President of the United States (1845-1849), known for his expansionist policy, including the annexation of Texas and the acquisition of territories following the Mexican-American War.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, valued for promoting mutual respect and understanding.

Mining Business

Refers to the industry and activities involved in extracting minerals from the earth, including exploration, extraction, and processing of minerals.