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

question 103

Multiple Choice

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

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

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