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……...….. $ 18,000

Units in process at the end of the period

(complete as to materials, ¼ complete as to

labor and overhead)……………………...... $6,000

Cost of materials used……..……………..$ 60,500

Labor and overhead costs…………….….$ 62,480

Unit cost of material is:

a) $3.20

b) $2.85

c) $2.60

d) $2.52

Answer rating: 100% (QA)

d 252 Equivalent ... View the full answer