The Gasson Company Uses the Weighted-Average Method in Its Process

question 2

Multiple Choice

The Gasson Company uses the weighted-average method in its process costing system.The company's ending work in process inventory consists of 10,000 units,100% complete with respect to materials and 70% complete with respect to labor and overhead.If the costs per equivalent unit are $4.50 for the materials and $2.00 for labor and overhead,the balance of the ending work in process inventory account would be:

• A)$44,500
• B)$50,500
• C)$59,000
• D)$65,000

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Definitions:

Development

The process of growth or progress in any entity, often involving evolutionary expansion or advancement.

Conjoined Twins

Twins that are physically connected to one another at birth, resulting from the incomplete separation of twin embryos during pregnancy.

Fertilization

The process in sexual reproduction where a sperm cell unites with an egg cell, leading to the formation of a zygote.

Sperm

The male sex cell.