Average Company Uses a Weighted-Average Process-Costing System

question 64

Multiple Choice

Average Company uses a weighted-average process-costing system. The Company records disclosed that Department A completed 100,000 units during the month and had 20,000 units in process at month-end, 50% complete. Conversion costs associated with the beginning work-in-process inventory amounted to $401,000, and amounts that relate to the current month totaled $950,000. If conversion is incurred uniformly throughout manufacturing, Average's equivalent-unit cost is:

• A)$3.65.
• B)$4.01.
• C)$9.50.
• D)$12.28.
• E)$13.51.

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Definitions:

Schema

A mental structure, stored in memory, that is based on prior knowledge.

Dual Process

A theory describing two distinct systems in the brain that process information: one that is automatic and rapid, and another that is deliberate and slow.

Information Processing

The series of actions or steps taken by the brain to receive, interpret, store, and retrieve information.

Motivated Social Cognitive

Describes a theory focusing on how motivation affects social behavior and cognitive processes.