Question
Lakeland Company uses process costing to determine product costs. The following is information for the current period: Units Material Costs Conversion Costs Beginning Inventory 3,000
Lakeland Company uses process costing to determine product costs. The following is information for the current period: Units Material Costs Conversion Costs Beginning Inventory 3,000 $4,570 $5,482 Started During the Current Period 20,000 $32,000 $77,393 Units completed and transferred out 2,500 All materials are added at the beginning of the production process. The beginning inventory was 40% complete as to conversion, and the ending inventory was 30% completed for conversion purposes. If Lakeland uses the weighted-average costing method, what is the total cost assigned to the units still in ending Work-in-Process inventory?
I don't understand how to get to the answer
Select one:
a. $6,900
b. $79,950
c. $91,518 Answer
d. $112,545
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started