Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow:
Work-in-process, April 1.

-Under process costing, the method of handling beginning work-in-process inventory that is almost never used in practice is
A) weighted-average.
B) FIFO.
C) last-in, first-out.
D) specific identification.

Question

Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow:
Work-in-process, April 1.
   
-Under process costing, the method of handling beginning work-in-process inventory that is almost never used in practice is
A) weighted-average. 
B) FIFO. 
C) last-in, first-out. 
D) specific identification.

Quizplus · Accepted Answer

The Answer of Fan Corporation manufactures snowboards. Material is introduced at the beginning of the process in the Assembly department. Conversion costs are applied uniformly throughout the process. The weighted-average method of product costing is used. Data for the Assembly department for the month of April, 20X1 follow:
Work-in-process, April 1.
   
-Under process costing, the method of handling beginning work-in-process inventory that is almost never used in practice is
A) weighted-average. 
B) FIFO. 
C) last-in, first-out. 
D) specific identification.

Fan Corporation Manufactures Snowboards