Question: Strap Company uses the weighted-average method in its process costing system. The company has only one processing department. The ending work in process inventory consists

Strap Company uses the weighted-average method in its process costing system. The company has only one processing department. The ending work in process inventory consists of 10,000 units. 60% complete with respect to materials. The total dollar value of this inventory is $38,000. The costs per equivalent unit are $5.00 for materials and $4.00 for conversion costs for the period. With respect to conversion costs, the ending work in process inventory is: A. 10% complete B. 20% complete C. 38% complete D. 30% complete

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