Winter Corporation uses a process costing system. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. Work in process inventory at the beginning of the period is 70% complete and 40% complete at the end of the period. Additional data is as follows:
- Assuming Winter uses the weighted-average method , the entry to record the materials added during the period would include?
A) Debit to Materials inventory for $962,500
B) Credit to Materials inventory for $962,500
C) Debit to Materials inventory for $72,950
D) Credit to Materials inventory for $72,950
Correct Answer:
Verified
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