Exhibit 4-1 Silva Coporation Uses the Weighted Average Process Costing Method.The Mixing

question 42

Multiple Choice

Exhibit 4-1
Silva Coporation uses the weighted average process costing method.The Mixing Department at Silva had 17,000 units in beginning inventory.These units contained $70,000 in direct materials,$80,000 in direct labor,and $60,000 in overhead.During the period,the department incurred costs of $320,000 in direct materials,$400,000 in direct labor and $200,000 in overhead and started 80,000 units.Ending inventory consisted of 6,000 units which were 100% complete with respect to direct materials and 50% complete with respect to direct labor and overhead.
-Refer to Exhibit 4-1.What is the total cost of units transferred out?

• A)$1,221,580
• B)$1,150,420
• C)$1,079,260
• D)$1,082,900
• E)None of the answer choices is correct.

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Definitions:

Null Hypothesis

A statistical proposition that presumes the absence of a significant discrepancy or impact among specific attributes of a population or data set.

Research Hypothesis

A statement predicting a significant relationship or effect between variables, tested against the null hypothesis.

Null Hypothesis

A statement of no effect or no difference, which researchers aim to test against the alternative hypothesis.

Statistical Significance

Statistical significance indicates the likelihood that a result from data collected and analyzed in a study is not due to chance, typically measured by a p-value.