Question
The Lumbar Chair Company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 140,000 chairs. During the month, the firm completed
The Lumbar Chair Company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 140,000 chairs. During the month, the firm completed 180,000 chairs and transferred them to the Finishing Department. The Assembly Department ended the month with 25,000 chairs in process. All direct materials costs are added at the beginning of the production cycle. Conversion costs are incurred uniformly over the production cycle. Weighted-average costing is used by Lumbar. How many of the chairs that were started were also completed during February?
115,000 chairs
155,000 chairs
180,000 chairs
132,000 chairs
None of the answers listed are correct
205,000 chairs
125,000 chairs
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