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Excellent Manufacturing uses a process cost system to manufacture sensors for the security industry.The following information pertains to operations for the month of March: The beginning inventory was 65% complete for materials and 25% complete for conversion costs.The ending inventory was 80% complete for materials and 45% complete for conversion costs.
Costs pertaining to the month of March are as follows:
Beginning inventory costs: materials = $46,200; conversion cost = $32,025
Costs incurred during March: materials used = $617,400; conversion cost = $655,200
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Which of the following is the unit cost of materials calculated using the weighted average method? (Note: Round answer to two decimal places.)
Ethnocentrism
The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a feeling of contempt for other groups.
Sherif
A psychologist known for his work on group norms and social influence.
Competition
The activity or condition of striving to gain or win something by defeating or establishing superiority over others.
Free-Rider Effect
Gaining the benefits of group membership by avoiding costly obligations of membership and by allowing other members to incur those costs.
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