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

question 16

Multiple Choice

Grosseiller Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were: A total of 6,400 units were started and 5,200 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: The ending inventory was 65% complete with respect to materials and 15% complete with respect to conversion costs.
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)$62,720
• B)$31,668
• C)$14,474
• D)$96,493

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Definitions:

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The most prevalent and widely accepted beliefs, norms, or moral standards in a given society or organization.

Product Quality

The measurement of the features and characteristics of a product that bear on its ability to satisfy stated or implied needs.

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Unspoken, deeply held beliefs that influence the behavior and decision-making within an organization or group.

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