Assume That Ending Work in Process Is 8,000 Units, 20

question 143

Multiple Choice

Assume that ending work in process is 8,000 units, 20% complete, and that 20,000 units were started during the month. The beginning work in process was 75% complete. Materials are added at the beginning of the process, and the cost of materials added during the month was $61,500. Using the weighted average method, materials are allocated at $4.00 per equivalent unit. The cost of material included in the beginning work in process from last month was:

• A)$18,500
• B)$20,000
• C)$34,500
• D)None of the above

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Definitions:

Financial Manager

A professional responsible for managing the financial activities of a company, including planning, organizing, controlling, and monitoring financial resources to achieve organizational goals.

Capital Market History

The historical evolution and record of financial markets that deal with the buying and selling of long-term debt or equity-backed securities.

Lessons Learned

Lessons learned refers to knowledge gained from the process of conducting a project or experience, which can be used to improve future actions or understand past outcomes.

Geometric Average Return

A measure of the average rate of return on an investment compounding over time, calculated using the geometric mean.