The Following Information Relates to the Assembly Department of Jataca

question 78

Multiple Choice

The following information relates to the Assembly Department of Jataca Corporation for the month of November.Jataca uses a weighted-average process costing system.All materials at Jataca are added at the beginning of the production process. On November 1,the work in process inventory account contained $6,400 of material cost and $4,400 of conversion cost.Cost per equivalent unit for November was $1.50 for materials and $2.80 for conversion costs. What total amount of cost should be assigned to the units in work in process on November 30?

• A)$17,800
• B)$38,700
• C)$40,200
• D)$43,000

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Definitions:

Adjusting Entries

Financial records entered at the termination of an accounting period, aimed at allocating profits and outlays to the correct period.

Pretax Income

The income earned by a company before deducting taxes, representing the company's profitability after all expenses except taxes.

Accrued Expenses

Liabilities (payables) created when expenses are incurred, but cash will be paid in the future; created at end of period during the adjustment process to reflect the amount of expense incurred that the company will pay in the future.

Depreciation Expense

Distributing the expense of a physical asset throughout its lifespan.