The Al Nabras Company uses the weighted average method in its process costing system. The company's ending work in process equivalent units were calculated as 11,000 units in respect to direct materials, and 9,000 units in respect to conversion. Also, total company's completed and transforrod out

The Al Nabras Company uses the weighted average method in its process costing system. The company's ending work in process equivalent units were calculated as 11,000 units in respect to direct materials, and 9,000 units in respect to conversion. Also, total company's completed and transforrod out

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Solve this question with steps please. The subject is Managerial Accounting.

9. The Al Nabras Company uses the weighted average method in its process costing
system. The company's ending work in process equivalent units were calculated as
11,000 units in respect to direct materials, and 9,000 units in respect to conversion.
Also, total company's completed and transferred out equivalent units were calculated
as 12,000 units for both direct materials and conversation cost. If the costs per
equivalent unit are $8.00 for the materials and $5.20 for conversion, the total cost of
the ending work in process inventory account would be:
A. $160,000
B. $158,400
C. $293,200
D. $134,800

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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