The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory............. $
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Question:
The Lakeside Company uses a weighted-average process costing system. The following data are available:
Beginning inventory……………............…. $ 0
Units started in production……………...... $ 24,000
Units finished during the period……...….. $ 18,000
Units in process at the end of the period
(complete as to materials, ¼ complete as to
labor and overhead)……………………...... $6,000
Cost of materials used……..……………..$ 60,500
Labor and overhead costs…………….….$ 62,480
Unit cost of material is:
a) $3.20
b) $2.85
c) $2.60
d) $2.52
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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