Macey Ltd Uses a Weighted-Average Process Costing System

question 23

Multiple Choice

Macey Ltd uses a weighted-average process costing system. Beginning inventory consists of 6,000 units, 40% complete. Units started are 14,000, completed are 10,000, and ending inventories are 9,000 units, 70% complete. Normal spoilage is 5% of the units inspected. Direct material is added at the 75% point and spoilage inspection occurs at the 80% point. The cost per equivalent unit for materials was $1.00 and $3.00 for conversion costs. The cost of the ending work in process was

• A) $30,600
• B) $18,900
• C) $28,800
• D) $36,000

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Definitions:

September 1864

A specific timeframe during the American Civil War, marked by several military engagements and strategic developments.

Appomattox Court House

The site of the surrender of Confederate General Robert E. Lee to Union General Ulysses S. Grant, effectively ending the American Civil War on April 9, 1865.

Ten-Percent Plan

A reconstruction plan proposed by Abraham Lincoln that allowed a rebel state to rejoin the Union once 10% of its voters pledged allegiance to the U.S. and abolished slavery.

Confederate States

The collection of Southern states that seceded from the United States in 1861, leading to the American Civil War, primarily over issues including states' rights and slavery.