Matrix Inc

question 15

Multiple Choice

Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method.The cost of goods completed and transferred out under the weighted-average method is calculated to be:

• A)$96,000.
• B)$476,400.
• C)$571,200.
• D)$484,000.
• E)$468,200.

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Definitions:

Rigidity

The quality of being unable to bend or be forced out of shape; not flexible.

Course of Performance

The course of performance is an examination of parties' behavior in fulfilling a contract, used to interpret ambiguous terms or determine contractual intent.

Course of Dealing

The pattern of actions between parties in a business transaction that establishes a common basis for understanding their conduct.

Right to Cure

The right to cure allows a party in breach of a contract a specified period to fix the breach before the other party can pursue legal remedies.