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

question 178

Multiple Choice

Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,500 units. The costs and percentage completion of these units in beginning inventory were: A total of 10,650 units were started and 9,000 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 85% complete with respect to materials and 70% complete with respect to conversion costs.How many units are in ending work in process inventory in the first processing department at the end of the month?

• A) 4,150
• B) 1,850
• C) 8,150
• D) 1,650

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Definitions:

Put Provision

A clause in a bond or other security that allows the holder to force the issuer to buy back the security before its maturity date.

Call Provision

A clause in a bond contract allowing the issuer to repay the bond before its maturity date under specific conditions.

Convertible Bond

A type of bond that the holder can convert into a specified number of shares of the issuing company, usually at predetermined times during its life.