Strap Company Uses the Weighted-Average Method in Its Process Costing

question 64

Multiple Choice

Strap Company uses the weighted-average method in its process costing system.The company has only one processing department.The ending work-in-process inventory consists of 10,000 units,60% complete with respect to materials.The total dollar value of this inventory is $38,000.The costs per equivalent unit are $5.00 for materials and $4.00 for conversion costs for the period.With respect to conversion costs,what is the ending work-in-process inventory?

• A) 10% complete.
• B) 20% complete.
• C) 38% complete.
• D) 30% complete.

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Definitions:

Separate but Equal

A legal doctrine in United States constitutional law that justified and permitted racial segregation as long as the separate facilities were supposedly of equal quality.

Brown v. Board of Education

A landmark United States Supreme Court case from 1954 that declared state laws establishing separate public schools for black and white students to be unconstitutional.

Educational Facilities

Buildings and environments, including schools, colleges, universities, and training centers, specifically designed for teaching and learning purposes.