Fulton Corporation Uses the Weighted-Average Method in Its Process Costing

question 44

Multiple Choice

Fulton Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: A total of 9,900 units were started and 8,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

• A)$39,216
• B)$65,360
• C)$45,752
• D)$41,633

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Definitions:

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The provision of nutrition directly into the jejunum (part of the small intestine) through a surgically created opening known as a jejunostomy.

Diarrhea

A condition characterized by the frequent passage of loose or watery stools, often a symptom of infection or digestive issues.

Urine

A liquid waste product produced by the kidneys and excreted through the urinary tract, composed of water, salts, and urea.

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A chronic condition characterized by high levels of sugar in the blood, due to the body's inability to produce or properly use insulin.