The Richmond Company Uses the Weighted-Average Method in Its Process

question 26

Multiple Choice

The Richmond Company 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 18,000 units.The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labour and overhead.If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labour and overhead,the total cost assigned to the ending work in process inventory was? (Do not round intermediate calculations)

• A) $75,600.
• B) $80,100.
• C) $95,400.
• D) $126,000.

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Definitions:

Organization Issuing

Refers to entities (like corporations, governments, or NGOs) that release or distribute something, often securities or official documents.

Future Revenues

Expected income from sales or services to be received in the future.

Stream Of Income

A consistent or predictable flow of revenue, which can come from investments, real estate, or other sources over a period of time.