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:

Mesoderm

A middle layer of cells or tissues in an embryo from which many organs and tissues such as muscle, bone, and blood vessels develop.

Subcutaneous Adipose Tissue

A layer of fat stored directly under the skin, serving as insulation and energy storage.

Skin Wound

A break or opening in the skin that results from injury or surgical incision.

Blood Clot

A mass of blood cells and coagulation factors that form to stop bleeding and facilitate healing.