The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory 0 Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Total cost of the 16,000 units finished is: Multiple Choice $63,360. $67,320. $72,640. $65,120.
The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory 0 Units started in production 20,000 Units finished during the period 16,000 Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead) 4,000 Cost of materials used $ 35,200 Labor and overhead costs $ 37,400 Total cost of the 16,000 units finished is: Multiple Choice $63,360. $67,320. $72,640. $65,120.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The Lakeside Company uses a weighted-average
| Beginning inventory | 0 |
|---|---|
| Units started in production | 20,000 |
| Units finished during the period | 16,000 |
| Units in process at the end of the period (complete as to materials, ¼ complete as to labor and |
4,000 |
| Cost of materials used | $ 35,200 |
| Labor and overhead costs | $ 37,400 |
Total cost of the 16,000 units finished is:
Multiple Choice
-
$63,360.
-
$67,320.
-
$72,640.
-
$65,120.
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