Sparky Corporation Uses the Weighted-Average Method of Process Costing

question 151

Multiple Choice

Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units:
Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $43,000.
Costs in beginning Work in Process - Conversion: $48,850.
Costs incurred in February - Direct Materials: $287,000.
Costs incurred in February - Conversion: $599,150.
Calculate the cost per equivalent unit of materials.

• A) $1.74
• B) $2.00
• C) $2.36
• D) $2.05
• E) $2.61

Identify the effects of marital status changes on will provisions.

Comprehend the significance and elements of a living will and durable power of attorney.

Understand the liabilities and responsibilities of trustees under a trust.

Understand the classification and purposes of different psychoactive medications, including antipsychotics and antianxiety medications.

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Definitions:

Insurance Contracts

Agreements between an insurance company and the insured, where the company agrees to compensate for specific losses in exchange for a premium.

Insurer

An entity that provides insurance coverage to individuals or organizations against financial loss.

Insured

A person or entity covered under an insurance policy, receiving financial protection against losses.

Beneficiary

A person or entity entitled to receive benefits or funds from a will, insurance policy, trust, or other financial instrument.