Sparky Corporation Uses the Weighted-Average Method of Process Costing

question 141

Multiple Choice

Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units:
Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $43,000. Costs in beginning Work in Process - Conversion: $48,850.
Costs incurred in February - Direct Materials: $287,000. Costs incurred in February - Conversion: $599,150.
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Calculate the equivalent units of conversion.

• A) 144,000
• B) 110,000
• C) 165,000
• D) 140,000
• E) 130,250

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Definitions:

Spoliation

The intentional or negligent destruction, alteration, or concealment of evidence that is relevant to a legal proceeding.

E-evidence

Digital evidence stored on electronic devices, used in court to support legal claims or defenses.

Default Judgment

A judgment entered by a court against a defendant who has failed to appear in court to answer or defend against the plaintiff’s claim.

Affirmative Defense

A response to a plaintiff’s claim that does not deny the plaintiff’s facts but attacks the plaintiff’s legal right to bring an action. An example is the running of the statute of limitations.