Janner Corporation Uses the Weighted-Average Method in Its Process Costing

question 52

Multiple Choice

Janner Corporation uses the weighted-average method in its process costing system.Operating data for the Painting Department for the month of April appear below: What were the equivalent units for conversion costs in the Painting Department for April?

• A)93,760
• B)92,800
• C)91,360
• D)88,000

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Definitions:

Gross Profit

The difference between revenue and the cost of goods sold before deducting overheads, payroll, taxation, and interest payments.

Credit Memo

A document issued by a seller to a buyer, reducing the amount owed by the buyer due to a return, error, or allowance.

Merchandise Returned

Refers to goods that have been sold and then returned by the customer due to various reasons such as defects or dissatisfaction.

FOB Shipping Point

A term used in shipping contracts to indicate that the buyer is responsible for the goods and shipping costs from the point of origin.