Answer the Following Questions Using the Information Below

question 90

Multiple Choice

Answer the following questions using the information below:
The Cuckoo Clock Shop manufactures clocks on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Cuckoo Clock Shop uses weighted-average costing.
Data for the Assembly Department for June 2013 are:
Costs for June 2013:

-What amount of conversion costs are assigned to the ending Work-in-Process account for June?

• A)$509,78.32
• B)$70,555.50
• C)$63,225.25
• D)$90,074

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Definitions:

Critical Value

A point on the scale of a statistical distribution that is used to determine the boundary for rejecting the null hypothesis in hypothesis testing.

One-sample T-test

A statistical test used to compare the mean of a single sample to a known average or standard value.

Parametric Counterpart

Refers to statistical tests or models that assume a certain distribution shape for the underlying data, as opposed to non-parametric methods which do not.

Kruskal-Wallis Test

A nonparametric test used to determine if there are statistically significant differences between two or more groups of an independent variable on a continuous or ordinal dependent variable.