• Apply the weighted average method for process costing at ABC Corporation using the following data:

  Cost Component	Total Cost ($)	Equivalent Units
  Materials	$40,000	10,000
  Labor	$30,000	8,000
  Overhead	$20,000	6,000

  Requirements:

  • Allocate costs to equivalent units using the weighted average method.
  • Present the analysis in a detailed table format.
  • Discuss the advantages and disadvantages of the weighted average method in process costing.