Which of the following is (are) needed to calculate the total cost of the ending work-in-process inventory under the weighted-average process-costing method? $\begin{array}{|l|c|c|}
\hline & \underline { \text { Unit } } & \underline { \text { Equivalent Units }} \
& \underline { \text { Cost }} \
\hline 1 & \text { Yes } & \text { Yes } \
\hline 2 & \text { Yes } & \text { No } \
\hline 3 & \text { No } & \text { Yes } \
\hline 4 & \text { No } & \text { No } \
\hline 5 & \text { Yes } & \text { Yes, but only in } \
&&\text { specialized cases }\
\hline
\end{array}$

Question

Which of the following is (are) needed to calculate the total cost of the ending work-in-process inventory under the weighted-average process-costing method? $\begin{array}{|l|c|c|}
\hline & \underline { \text { Unit } } & \underline {  \text { Equivalent Units }} \
& \underline {  \text { Cost }} \
\hline 1 & \text { Yes } & \text { Yes } \
\hline 2 & \text { Yes } & \text { No } \
\hline 3 & \text { No } & \text { Yes } \
\hline 4 & \text { No } & \text { No } \
\hline 5 & \text { Yes } & \text { Yes, but only in } \
&&\text { specialized cases }\
\hline
\end{array}$

Quizplus · Accepted Answer

To calculate the total cost of the ending work-in-process inventory under the weighted-average process-costing method, we need to know the unit cost of the work done during the period (which can be calculated using the cost of goods manufactured and the equivalent units of production for the period) and the equivalent units of production for the ending work-in-process inventory. Therefore, statement 1 is correct and provides both pieces of information needed for the calculation. Statements 2 and 3 do not provide both pieces of information, and statement 4 provides neither. Statement 5 suggests that there may be specialized cases where both pieces of information are not needed, but this is not a general rule and is not applicable in all cases.

Which of the Following Is (Are) Needed to Calculate the Total