The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...

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The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory...

The Lakeside Company uses a weighted-average process costing system. The following data are available:


Beginning inventory		-0-
Units started in production		24,000
Units finished during the period		17,900
Units in process at the end of the period (complete as to materials, ¼ complete as to labor and overhead)		6,100
Cost of materials used	$	60,500
Labor and overhead costs	$	62,480

Total cost of the 17,900 units finished is:

Multiple Choice

$102,698.
$111,447.
$123,011.
$109,467.

business accounting

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Answer 1

Answer #1

Equivalent units for material = 24000 units

Equivalent units for Labor and overhead costs = 17900 + 6100*1/4 = 19425 units

Cost per unit of material = 60500 / 24000 = $2.520 per unit

cost per unit of Labor and overhead costs = 62480 / 19425 = $3.216 per unit

Total cost (2.52+3.22)*17900 = $102,698

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Answer 2

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