Professionals do not need to be team players
Indicate whether the statement is true or false
F
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Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units:Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion.Units started and completed: 110,000.Units completed and transferred out: 135,000.Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion. Costs:Costs in beginning Work in Process - Direct Materials: $43,000.Costs in beginning Work in Process - Conversion: $48,850.Costs incurred in February - Direct Materials: $287,000.Costs incurred in February - Conversion: $599,150. Calculate the cost per equivalent unit of conversion.
A. $4.60 B. $5.45 C. $4.16 D. $4.98 E. $4.50
The inventory turnover ratio is a measure of how many times during a period a company sells off its inventory
a. True b. False Indicate whether the statement is true or false
A questionnaire is a major source of response error
Indicate whether the statement is true or false
Which of the following specific measures of vendor quality would be used when evaluating vendors that supply a company with direct materials?
a. Defect-free material as a percentage of total materials received b. Number of customer complaints c. Time it takes to make a product d. All would be considered to assess vendor quality of direct materials.