Activities in the Sargent Corporation's Assembly Department for the month of March follow: PercentComplete UnitsMaterialsConversionWork-in-process inventory, March 17,00070%35%Started into production during March66,000 Work-in-process inventory, March 315,00045%30% Using the weighted-average method, the equivalent units for conversion for March would be:
A. 69,500
B. 67,500
C. 68,000
D. 71,000
Answer: A
You might also like to view...
The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________
A) market-skimming pricing B) market-penetration pricing C) value-added pricing D) target costing E) deceptive pricing
Mary Tappin, an assistant Vice President at Galaxy Toys, was disturbed to find on her desk a memo from her boss, Gary Resnick, to the controller of the company. The memo appears below:GALAXY TOYS INTERNAL MEMOSept 15To: Harry Wilson, ControllerFm: Gary Resnick, Executive Vice PresidentAs you know, we won't start recording many sales until October when stores start accepting shipments from us for the Christmas season. Meanwhile, we are producing flat-out and are building up our finished goods inventories so that we will be ready to ship next month.Unfortunately, we are in a bind right now since it looks like the net income for the quarter ending on Sept 30 is going to be pretty awful. This may get us in trouble with the bank since they always review the quarterly financial reports and may
call in our loan if they don't like what they see. Is there any possibility that we could change the classification of some of our period costs to product costs-such as the rent on the finished goods warehouse?Please let me know as soon as possible. The President is pushing for results.Mary didn't know what to do about the memo. It wasn't intended for her, but its contents were alarming.Required:a. Why has Gary Resnick suggested reclassifying some period costs as product costs?b. Why do you think Mary was alarmed about the memo? What will be an ideal response?
Which of the following is true of bonded warehouses?
A. They are operated by transportation firms. B. They are intended to be places for trade and business. C. They help shippers in avoiding tariffs and quotas. D. They are owned by the government.
In a limited-liability company (LLC), the members are personally liable for the debts of the business
Indicate whether the statement is true or false