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:

Glycolysis

A metabolic pathway that converts glucose into pyruvate, releasing energy and producing ATP and NADH, occurring in the cytosol of cells.

Citric Acid Cycle

A series of chemical reactions used by all aerobic organisms to generate energy through the oxidation of acetate.

Acetyl CoA

A molecule that conveys the carbon atoms within the acetyl group to the citric acid cycle (Krebs cycle) to be oxidized for energy production.

NADH

NADH stands for Nicotinamide Adenine Dinucleotide (Hydrogen), a coenzyme found in all living cells that plays a fundamental role in producing energy through the process of oxidation-reduction.