Miramar Ltd Uses a Weighted-Average Process Costing System Which Recognises

question 37

Multiple Choice

Miramar Ltd uses a weighted-average process costing system which recognises normal spoilage as 5% of good output. During the current period, 14,000 units were started and 10,000 units completed. Materials are added at the beginning of the process, conversion costs occur uniformly, and the inspection point is at the 70% point. Beginning work in process was 6,000 units, 40% complete, and ending work in process 9,000 units, 80% complete. The cost per equivalent unit for material was $1.00 and for conversion costs $3.00. The cost of goods completed was

• A) $41,550
• B) $40,000
• C) $40,816
• D) $41,053

---

Definitions:

Effective Managers

are individuals who achieve desired results through the efficient use of resources and the successful direction of their team members.

High Performance

Achieving significantly better outcomes or efficiencies than standard or expected levels, often through excellence in execution and strategy.

Functional Managers

Managers who are responsible for one area, such as finance, marketing, production, personnel, accounting, or sales.

Technical Expertise

Specialized knowledge or skills in a specific field or discipline, often relating to the application of scientific or technical knowledge.