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.

Understand the impact of forecast error on supply chain overstock and understock.

Recognize the strategic importance of optimal product availability in maximizing profits.

Grasp the concept of postponement as a supply chain strategy to increase efficiency.

Comprehend the relationship between product availability, customer satisfaction, and supply chain responsiveness.

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Definitions:

Unforeseen Family Issues

Unexpected personal circumstances involving family members that can impact one's ability to focus or continue with planned activities.

Extension

An additional period of time given to complete a task or an enhancement of existing features in products or systems.

Child Care Resources

Support services and materials available for parents and guardians to assist in the supervision and education of children.

Academic Life

The aspects of life concerned with education and learning, especially at a college or university level.