Scheney Company uses the weighted-average method in its process costing system.
ID: 2378614 • Letter: S
Question
Scheney Company uses the weighted-average method in its process costing system. The company's work in process inventory on March 31 consisted of 29,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for March was $2.00 for materials and $4.50 for labor and overhead, the total cost in the March 31 work in process inventory was:
Scheney Company uses the weighted-average method in its process costing system. The company's work in process inventory on March 31 consisted of 29,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the cost per equivalent unit for March was $2.00 for materials and $4.50 for labor and overhead, the total cost in the March 31 work in process inventory was:
Explanation / Answer
B) $ 188,500
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