Question: The Lakeside Company uses a weighted-average process costing system. The following data are available: Beginning inventory -0- Units started in production 20,000 Units finished during
The Lakeside Company uses a weighted-average process costing system. The following data are available:
|
|
|
|
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| Beginning inventory |
| -0- |
|
| Units started in production |
| 20,000 |
|
| Units finished during the period |
| 16,000 |
|
| Units in process at the end of the period (complete as to materials, complete as to labor and overhead) |
|
4,000 |
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| Cost of materials used | $ | 35,200 |
|
| Labor and overhead costs | $ | 37,400 |
|
Total cost of the 16,000 units finished is:
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