Scheney Company Uses the Weighted-Average Method in Its Process Costing

question 39

Multiple Choice

Scheney Company uses the weighted-average method in its process costing system. The company's work in process stock on March 31 consisted of 20,000 units. The units in the ending work in process stock were 100% complete with respect to materials and 70% complete with respect to labour and overhead. If the cost per equivalent unit for August was £2.50 for materials and £4.75 for labour and overhead, the total cost in the March 31 work in process stock was:

• A)£145,000
• B)£116,500
• C)£101,500
• D)£78,500

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