Kidd Company Uses a Process Cost System and the Weighted

question 112

Multiple Choice

Kidd Company uses a process cost system and the weighted average method.The company had 800 units of product in its work in process inventory at the beginning of the period.During the period 3,000 additional units of product were started.At the end of the period there were 1,500 units of product in the work in process account.The ending work in process inventory was estimated to be 30% complete.The beginning work in process inventory had a balance of $4,000.Product costs totalingThere were $84,000 of product costs were added to work in process during the period.The amount of cost in ending work in process inventory is:

• A) $33,600.
• B) $48,000.
• C) $14,400.
• D) $8,400.

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Definitions:

Population Variances

A measure of the dispersion or spread of a population's values, calculated as the average of the squared differences from the population mean.

Sample Variance

A measure of the dispersion of a sample dataset, calculating how much the sample data points deviate from the sample mean.

Equal

Being the same in value, quantity, or measure between two or more entities or conditions.

Standard Deviation

A measure that quantifies how much a set of data diverges from its mean value.