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

question 92

Multiple Choice

The Richmond Company uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:

• A) $126,000
• B) $75,600
• C) $80,100
• D) $95,400

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