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

question 177

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 $34,558 and a total of $559,254 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) $9.479
• B) $9.943
• C) $9.680
• D) $8.435

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Definitions:

High-Dividend Clientele

A group of investors who prefer stocks that pay high dividends because they seek steady income from their investments.

Arbitrage Clientele

A group of investors who seek to profit from price differentials of the same asset in different markets, without risk.

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The concept that investors can create their own dividend policy by selling a portion of their portfolio of equities, instead of relying on the company's dividend payments.

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The part of a company's profits that is paid out to shareholders as dividends.