Scheney Company Uses the Weighted-Average Method in Its Process Costing

Scheney Company uses the weighted-average method in its process costing system.The company's work in process inventory on March 31 consisted of 20,000 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 $2.50 for materials and $4.75 for labor and overhead,the total cost in the March 31 work in process inventory was:

A) $145,000
B) $116,500
C) $101,500
D) $78,500

Correct Answer:

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