Strap Company Uses the Weighted-Average Method in Its Process Costing

Multiple Choice

Strap Company uses the weighted-average method in its process costing system. The company has only one processing department. The ending work in process inventory consists of 10,000 units, 60% complete with respect to materials. The total dollar value of this inventory is $38,000. The costs per equivalent unit are $5.00 for materials and $4.00 for conversion costs for the period. With respect to conversion costs, the ending work in process inventory is?

A) 20% complete.
B) 30% complete.
C) 38% complete.
D) 10% complete.