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

question 32

Multiple Choice

Haffner Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

• A) $37,278
• B) $33,294
• C) $62,129
• D) $31,065

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Definitions:

Dumping

The selling abroad of goods at prices lower than the prices of the goods sold domestically in the country of origin.

Special Import Measures Act

Legislation designed to protect Canadian industries from unfair trade practices like dumping and subsidizing.

Customs Tariff Act

Legislation that outlines the taxes or duties to be paid on imported or exported goods.

Foreign Branch Plant

A subsidiary production or service facility of a company located in another country from the parent company.