The 10,000 units in Department B that are 30% complete are equivalent to 3,000 whole units.
Answer the following statement true (T) or false (F)
True
Equivalent units in ending inventory = Units in ending inventory × Percentage complete
You might also like to view...
Which of the following correctly describes the tax rates used under U.S. GAAP and IFRS for deferred taxes?
A. GAAP uses enacted tax rates while IFRS uses enacted or substantively enacted tax rates. B. Both GAAP and IFRS use only enacted tax rates. C. Both GAAP and IFRS use substantively enacted tax rates. D. GAAP uses enacted or substantively enacted rates while IFRS uses only enacted tax rates.
When certain kinds of assets are built that require public welfare and safety expenditures at the end of the asset's life,
a. these asset retirement costs are expensed when asset retirement occurs. b. a liability simultaneously arises. c. these estimated future expenditures are added to the carrying value of the asset. d. this fact is only reported in the financial statement footnotes.
What are marketing intermediaries? What are the different types of marketing intermediaries?
What will be an ideal response?
______ occurs when one says or acts one way in public but feels quite differently in private.
A. Self-enhancement B. Dissonance C. Motivation D. Self-verification