A Company Uses a Process Costing System

question 166

Multiple Choice

A company uses a process costing system.Its Welding Department completed and transferred out 100,000 units during the current period.The ending inventory in the Welding Department consists of 30,000 units (75% complete with respect to direct materials and 40% complete with respect to conversion costs) . Determine the equivalent units of production for the Welding Department for direct materials and conversion costs assuming the weighted average method.

• A)130,000 materials; 130,000 conversion.
• B)130,000 materials; 112,000 conversion.
• C)107,500 materials; 118,000 conversion.
• D)122,500 materials; 112,000 conversion.
• E)112,500 materials; 130,000 conversion.

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Definitions:

Corporate Secretary

An executive officer responsible for overseeing administrative functions and ensuring compliance with statutory and regulatory requirements.

Corporate Clerk

A corporate officer responsible for maintaining the records and administrating the daily operations of a corporation.

Bookkeeper

A person responsible for recording the financial transactions and maintaining the accounting records of a business.

Obedience

The act of following orders or instructions from authority figures, often seen as a form of compliance within hierarchical organizations.