Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,300 units that were 60% complete with respect to materials and 40% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,100. During the period, 9,300 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $5.30 for material and $6.30 for conversion costs. The cost of units transferred out during the month was:a.$63,200
b.$40,000
c.$80,800
d.$72,000
Answers: 3
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For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.
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Mundes Corporation uses the weighted-average method in its process costing system. The beginning wor...
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