Question

In the cost reconciliation report under the weighted-average method, the "Total cost accounted for" equals:

A) Cost of beginning work in process inventory + Cost of units transferred out
B) Cost of beginning work in process inventory + Cost of units transferred in
C) Cost of ending work in process inventory + Cost of units transferred out
D) Cost of ending work in process inventory + Cost added to production during the period

Answer 1

In the cost reconciliation report under the weighted-average method, the "Total cost accounted for" equals option D) Cost of ending work in process inventory + Cost added to production during the period.

Step-by-step explanation:

In the cost reconciliation report under the weighted-average method, the "Total cost accounted for" equals option D) Cost of ending work in process inventory + Cost added to production during the period. This option includes both the cost of ending work in process inventory and the cost added to production during the period, giving a complete picture of the total cost accounted for.