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:

Error Rate

The frequency at which errors occur in a process or system, often used as a measure of performance or reliability.

Amygdala

A set of neurons located deep in the brain's medial temporal lobe, playing key roles in the processing of emotions.

Thalamus

The forebrain structure that sits at the top of the brain stem in the brain’s central core and serves as an important relay station.

Two-factor Theory

The Two-factor Theory proposes that human emotions are the result of a combination of physiological arousal and the cognitive labeling of that arousal.