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

question 78

Multiple Choice

Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 2,000 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $8,800. During the period, 8,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $4.00 for material and $5.00 for conversion costs. The cost of units transferred out during the month was:

• A) $40,000
• B) $63,200
• C) $72,000
• D) $80,800

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Definitions:

Contingency Approach

A management theory that suggests the most appropriate style of management is dependent on the context of the situation.

Reflective Speech

The process of articulating thoughts and feelings in a manner that considers multiple perspectives and the deeper meanings of one's experiences.

Free-association Technique

A therapeutic method used in psychoanalysis where patients are encouraged to verbalize thoughts as freely as they occur.

Benzodiazepines

A class of psychoactive drugs used primarily for treating anxiety, insomnia, and other disorders by enhancing the effect of the neurotransmitter GABA.