Lakeland Chemical manufactures a product called Zing. Direct materials are added at the beginning of the process, and conversion activity occurs uniformly throughout production. The beginning work-in-process inventory is 60% complete with respect to conversion; the ending work-in-process inventory is 20% complete. The following data pertain to May: Units Work in process, May 1 15,000 Units started during May 60,000 Units completed and transferred out 68,000 Work in process, May 31 7,000 Total Direct Materials Conversion CostsCosts: Work in process, May 1$41,250 $16,500 $24,750 Costs incurred during May 234,630 72,000 162,630 Totals$275,880 $88,500 $187,380 Using the weighted-average method of process costing, the total costs remaining in work in process on May 31 are:
A. $17,480.
B. $25,640.
C. $12,040.
D. $0.
E. None of the answers is correct.
Answer: C
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