Lucas Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:
A) $13,570
B) $50,888
C) $30,660
D) $67,851

Question

Lucas Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
  Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:
A) $13,570 
B) $50,888 
C) $30,660 
D) $67,851

Quizplus · Accepted Answer

Weighted-average method
 11ea7761_189d_d00d_81a5_e385a4d83c4a_TB2580_00 11ea7761_189d_f71e_81a5_8571c69480a6_TB2580_00 11ea7761_189d_f71f_81a5_4d5e009d45e1_TB2580_00

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