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

question 98

Essay

Oleksy Corporation uses the weighted-average method in its process costing. The following data concern the company's Assembly Department for the month of June. During the month, 4,900 units were completed and transferred from the Assembly Department to the next department.
Required:
Determine the cost of ending work in process inventory and the cost of units transferred out of the department during June using the weighted-average method.

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Definitions:

Personal Acceptance Conformity

The tendency to adopt behaviors, attitudes, or values of a group in order to be accepted as a member.

Compliance Conformity

The process by which individuals adjust their behavior or beliefs to align with the norms or standards of a group or authority figure.

Organizational Teams

Groups of individuals within an organization, structured to work collaboratively towards common objectives, leveraging diverse skills and perspectives.

Productivity

The measure of efficiency in converting inputs into useful outputs, commonly used to gauge the effectiveness of labor, machines, and systems.