The Richmond Company Uses the Weighted-Average Method in Its Process

question 81

Multiple Choice

The Richmond Company uses the weighted-average method in its process costing system.The company has only a single processing department.The company's ending work-in-process inventory on August 31 consisted of 18,000 units.The units in the ending work-in-process inventory were 100% complete with respect to materials and 60% complete with respect to labour and overhead.If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labour and overhead,what was the total cost assigned to the ending work-in-process inventory?

• A) $126,000.
• B) $75,600.
• C) $80,100.
• D) $95,400.

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Definitions:

Acquaintances

Individuals known by someone, but with whom they do not have a close emotional relationship.

Coping Strategy

Techniques or methods that individuals use to manage stress, challenges, or trauma in their lives.

Self-Blame

The act of attributing failure or negative events to one's own actions or deficiencies, often ignoring external circumstances.

Rationalization

A defense mechanism where an individual justifies actions or feelings with seemingly logical explanations, often to hide the true reasons.