Use the following information to answer the following Questions
Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending work-in-process inventory is 20% complete. The following data pertain to May:

-Using the weighted-average method of process costing, the total costs remaining in work in process on May 31 are:
A) $0.
B) $12,040.
C) $17,480.
D) $25,640.
E) None of the answers is correct.

Question

Use the following information to answer the following Questions
Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending work-in-process inventory is 20% complete. The following data pertain to May:

-Using the weighted-average method of process costing, the total costs remaining in work in process on May 31 are:
A) $0. 
B) $12,040. 
C) $17,480. 
D) $25,640. 
E) None of the answers is correct.

Quizplus · Accepted Answer

The total costs remaining in work in process on May 31 are $12,040. This is calculated by multiplying the number of units in work in process (400 units) by the cost per unit ($30.10).

Use the Following Information to Answer the Following Questions