Answer the Following Questions Using the Information Below:
the Sleepyhead

question 97

Multiple Choice

Answer the following questions using the information below:
The Sleepyhead Chair Company manufactures a standard recliner.During February,the firm's Assembly Department started production of 75 000 chairs.During the month,the firm completed 85 000 chairs and transferred them to the Finishing Department.The firm ended the month with 10 000 chairs in ending inventory.All direct materials costs are added at the beginning of the production cycle.Weighted-average costing is used by Sleepyhead.
-Mt.Iron Steel processes a single type of steel.For the current period the following information is given:
$$\begin{array} { | l | r | r | r | } \hline & \text { Units } & \text { Material Costs } & \text { Conversion Costs } \\\hline \text { Beginning Inventory } & 3000 & \$ 4500 & \$ 5400 \\\hline \text { Started During the Current Period } & 20000 & 3 2 0 0 0 & 7 8 0 200 \\\hline \text { Ending Inventory } &2 5 0 0& & \\\hline\end{array}$$
All materials are added at the beginning of the production process.The beginning inventory was 40% complete as to conversion,while the ending inventory was 30% completed for conversion purposes.
Weighty uses the weighted-average costing method.
What is the total cost assigned to the units completed and transferred this period?

• A)$120 100
• B)$107 010
• C)$113 160
• D)$109 440

Acknowledge the role of common language and quantitative simplifications in communicating data.

Recognize different types of charts and their specific uses, including suggestions for avoiding visual distortion.

Understand the concept of shaping and how it applies to consumer behavior and marketing strategies.

Identify and describe various behavioural learning theories, including cognitive learning, classical conditioning, and operant conditioning.

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Definitions:

Plantwide Overhead Rate

A single overhead rate calculated for an entire factory or plant, applied uniformly to all the production units, regardless of the department in which they were produced.

Labor-Intensive

Refers to a type of industry or process that requires a large amount of manpower to produce goods or services, as opposed to being highly automated.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead to products, calculated before the period begins based on estimated costs and activity levels.

Machine-Hours

The total hours that a machine is operational, used as a measure for allocating manufacturing overhead costs.