Richards Corporation Uses the Weighted-Average Method of Process Costing

question 79

Multiple Choice

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department: Units:
Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion.
Units started and completed: 250,000.
Units completed and transferred out: 330,000.
Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700.
Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300.
-
Calculate the equivalent units of materials.

• A) 250,000
• B) 342,000
• C) 317,000
• D) 333,000
• E) 294,000

---

Definitions:

Social Order

An arrangement of practices and behaviors on which society’s members base their daily lives, aiming at maintaining societal stability and predictability.

Class Differences

Describes the distinctions made between individuals or groups based on their social and economic positions within society.

Concentrated Capital

Concentrated capital refers to wealth or assets that are controlled by a small number of individuals or companies, often leading to economic inequality and monopolistic practices.

Class Warfare

A concept referring to the conflict between different classes in society, often highlighting the struggle between those who have wealth and power and those who do not.