Asked by Shalonda Lyons on Jun 12, 2024

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Lucas Company uses the weighted-average method in its process costing system.

A) $6,120.
B) $5,520.
C) $3,060.
D) $6,000.

Weighted-Average Method

An inventory costing method that averages out all costs of inventory available for sale during the period.

Process Costing System

An accounting method used where similar goods are produced in a continuous process, distributing costs over the units produced, making it easier to ascertain per unit cost.

  • Understand the concept and application of the weighted-average method in process costing.
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Manpreet SandhuJun 16, 2024
Final Answer :
A
Explanation :
The weighted-average method combines the costs of the beginning inventory and the costs of current production, then divides this total cost by the total equivalent units to find the cost per equivalent unit. Without specific data on the beginning inventory, units produced, costs incurred, and equivalent units, it's impossible to calculate the exact answer. However, based on the options provided and assuming the question implies A is the correct answer, it suggests that the calculation using the weighted-average method results in a cost of $6,120.