Weighty Steel Processes a Single Type of Steel

question 140

Multiple Choice

Weighty Steel processes a single type of steel. For the current period the following information is given:

All materials are added at the beginning of the production process. The beginning inventory was 50% complete as to conversion, while the ending inventory was 25% completed for conversion purposes.
Weighty uses the weighted-average costing method.
What is the total cost assigned to the units completed and transferred this period? (Round intermediary dollar amounts to the nearest cent and total costs to the nearest whole dollar.)

• A) $91,200
• B) $115,050
• C) $112,761
• D) $121,600

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Definitions:

Negotiable Instruments

Financial documents, such as checks or promissory notes, that guarantee the payment of a specified amount of money, either on demand or at a set time, with the feature of being transferrable to another holder.

Consumer Transaction

An exchange or agreement regarding the sale, lease, or provision of goods or services between a seller and a consumer.

Federal Competition Act

Legislation aimed at promoting fair competition practices and regulating anti-competitive behavior in the market.

Consumer Protection

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