In the cost reconciliation report under the weighted-average method, the "Total cost accounted for" equals:
A) Cost of beginning work in process inventory + Cost of units transferred out
B) Cost of beginning work in process inventory + Cost of units transferred in
C) Cost of ending work in process inventory + Cost of units transferred out
D) Cost of ending work in process inventory + Cost added to production during the period

Question

Quizplus · Accepted Answer

The "Total cost accounted for" under the weighted-average method includes the cost of the ending work in process inventory plus the cost of units transferred out. This reflects all costs accounted for within the period, including those associated with incomplete and completed units.

In the Cost Reconciliation Report Under the Weighted-Average Method, the "Total