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

question 20

Multiple Choice

Loll Company uses the weighted-average method in its process costing system.Operating data for the first processing department for the month of June appear below: According to the company's records,the conversion cost in beginning work in process inventory was $46,915 at the beginning of June.Additional conversion costs of $825,183 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places. )

• A)$8.420
• B)$6.934
• C)$8.530
• D)$8.322

Grasp the purpose and content of the statement of cash flows and how it links to changes in a firm’s financial structure and investments.

Recognize the categories of activities detailed in the cash flow statement (operating, investing, and financing) and the type of transactions included in each.

Identify the difference between direct and indirect methods of reporting cash flows from operating activities.

Understand how changes in balance sheet accounts affect cash flows and figure into the cash flow statement.

---

Definitions:

Aging

The process of becoming older, a series of biological changes that occur in living organisms over time.

Spindle Equator

The imaginary plane located at the midpoint between the poles of a cell during mitosis or meiosis where chromosomes line up during metaphase.

Metaphase

A phase of cell division where chromosomes align in the middle of the cell before being separated into each of the two daughter cells.