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

question 80

Multiple Choice

Barnett Corporation uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in Department M. Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31. During May, 12,000 units were completed and transferred to the next department. An analysis of the costs relating to work in process at May 1 and to production activity for May follows: The total cost per equivalent unit for May was:

• A)$5.02
• B)$5.10
• C)$5.12
• D)$5.25

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Definitions:

Intelligence

The ability to acquire, understand, and use knowledge, as well as to engage in abstract thinking and problem-solving.

Recall Events

The process of retrieving information about past events or experiences from one’s memory.

Confounding Variables

Factors other than the independent variable(s) that are unequal across groups.

Random Assignment

A method used in experiments to ensure that every participant has an equal chance of being assigned to any given group, thereby reducing bias.