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

question 52

Multiple Choice

Hache Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: 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)$26,693
• B)$69,888
• C)$34,944
• D)$20,966

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Definitions:

Area

A measure of the extent of a two-dimensional surface or shape, expressed in square units.

Student T Distribution

A probability distribution that is used in hypothesis testing for small sample sizes or when the population standard deviation is unknown.

Expected Value

A statistical concept representing the average outcome one would expect to see from a probability distribution over many trials.

Exponential Distribution

A model used in statistics for describing the times between events in a process where events occur continuously and independently at a constant rate.