Scheney Company uses the weighted-average method in its processcosting system. The company's work in process inventory on March 31consisted of 20,000 units. The units in the ending work in processinventory were 100% complete with respect to materials and 70%complete with respect to labor and overhead. If the cost perequivalent unit for March was $2.50 for materials and $4.75 forlabor and overhead, the total cost in the March 31 work in processinventory was:
a. $145,000
b. $116,500
c. $101,500
d. $78,500
Scheney Company uses the weighted-average method in its processcosting system. The company's work in process inventory on March 31consisted of 20,000 units. The units in the ending work in processinventory were 100% complete with respect to materials and 70%complete with respect to labor and overhead. If the cost perequivalent unit for March was $2.50 for materials and $4.75 forlabor and overhead, the total cost in the March 31 work in processinventory was:
| a. | $145,000 | |
| b. | $116,500 | |
| c. | $101,500 | |
| d. | $78,500 |
Related questions
Hache Corporation uses the weighted-average method in itsprocess costing system. Data concerning the first processingdepartment for the most recent month are listed below:
| Beginning work in processinventory: | ||
| Units in beginning work in processinventory | 800 | |
| Materials Costs | $ | 8,200 |
| Conversion Costs | $ | 8,000 |
| Percent complete with respect tomaterials | 50% | |
| Percent complete with respect toconversion | 35% | |
| Units started into production during the month | 5,600 | |
| Units transferred to the next department during themonth | 4,800 | |
| Materials costs added during the month | $ | 90,500 |
| Conversion costs added during the month | $ | 125,800 |
| Ending work in process inventory: | ||
| Units in ending work in processinventory | 1,600 | |
| Percent complete with respect tomaterials | 50% | |
| Percent complete with respect toconversion | 30% |
The cost of ending work in process inventory in the firstprocessing department according to the company's cost system isclosest to: (Do not round Cost per equivalentunit.)
