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

question 48

Multiple Choice

Chabud Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: A total of 8,100 units were started and 7,300 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 70% complete with respect to materials and 40% 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 total cost transferred from the first processing department to the next processing department during the month is closest to:

• A) $332,037
• B) $301,000
• C) $309,000
• D) $281,846

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Definitions:

Formal Democracy

Involves regular, competitive elections.

Socialist Democracy

Socialist democracy is a political system that combines democracy with socialist principles, aiming for equal distribution of wealth and resources among its citizens through democratic means.

Stable Democratic Society

A state of social equilibrium where a democratic form of government operates effectively, ensuring civil liberties and the rule of law.

Economic Elites

refer to individuals or groups who possess a disproportionate amount of wealth, resources, and power within a society.