Problem:
Copley 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 process 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 the ending work in process is:
A. $54,000
B. $78,000
C. $114,000
D. $195,000
E. an amount other than those listed above