D.Q. Company uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of 6,000 units that were 75 percent complete with respect to conversion costs. Ending work in process inventory consisted of 5,000 units that were 60 percent complete with respect to conversion costs. If 12,000 units were transferred to the next processing department during the
period, the equivalent units for conversion costs would be
a. 12,500 units.
b. 10,500 units.
c. 13,500 units.
d. 13,000 units.
B
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Which of the following is the best statement reflecting the purpose of marketing research?
A) to provide information that improves profitability B) to link the environments to the firm C) to link the consumer to the marketer by providing information that can be used in making marketing decisions D) to link target markets to specific decision makers at all levels within firms E) to be perceived as providing value to higher level executives within the firm
Components of the COSO internal control framework discussed in the text include:
a. the accounting function. b. control activities. c. the control environment. d. All of the choices are components of the COSO framework discussed in the text. e. None of the choices are components of the COSO framework discussed in the text.
Which of the following statements is not true regarding the buyer's right to cover?
a. The buyer must cover. b. The measure of damages in a cover is the difference between the cover price and the contract price. c. Cover must be done by reasonably obtaining substitute goods. d. Consequential damages can be recovered in addition to the cover damages.
The UCC has replaced the common law concept of title in part with the concept of risk of loss.
Answer the following statement true (T) or false (F)