Claremore Industries uses a weighted-average process-costing system. All materials are added at the beginning of the process; conversion costs are incurred evenly throughout production. The company finished 40,000 units during the period and had 15,000 units in progress at year-end, the latter at the 40% stage of completion. Total material costs amounted to $220,000; conversion costs were $414,000.The cost of goods completed is:
A. $414,000.
B. $520,000.
C. $634,000.
D. $312,000.
E. None of the answers is correct.
Answer: B
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