Use the Information Below to Answer the Following Question(s)

question 31

Multiple Choice

Use the information below to answer the following question(s) .Craft Concept manufactures small tables in its Processing Department.Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit.Conversion costs are incurred evenly throughout the production cycle.Before inspection, some units are spoiled due to non-detectable materials defects.Inspection occurs at the end of the process.Spoiled units generally constitute 5 percent of the good units.Data for December are as follows:

-What are the amounts of direct materials and conversion costs assigned to ending work-in-process using the weighted-average process costing method?

• A)$18,720; $24,000
• B)$22,900; $19,820
• C)$24,000; $18,720
• D)$28,560; $14,160
• E)$33,650; $14,140

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Definitions:

Intermediate Term

A period of time that falls between the short term and the long term, often used to describe financial instruments or investments with maturity periods of 2 to 10 years.

Adaptive

The ability to change or adjust effectively to new conditions, environments, or situations, often considered vital for survival and success.

Developing

The process of growth, progress, or improvement toward a more advanced, complex, or mature state, often used in the context of countries, technology, or skills.

Efficient

The quality of achieving maximum productivity with minimum wasted effort or expense.