The following production data were taken from the records of the Finishing Department for June: Inventory in process, 6-1, 25% completed 1,500 units Transferred to finished goods during June 5,000 units Equivalent units of production during June 5,200 units Determine the number of equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out
method is used to cost inventories. Assume the completion percentage of 25% applies to both direct materials and conversion costs.
A) 575 units
B) 200 units
C) 1,000 units
D) 300 units
A
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Federal Express and International Business Machines (IBM) are examples of:
A) overt names B) implied names C) conceptual names D) iconoclastic names
An increase in accounts receivable of $6,000 for the year:
A. increases cash flow from operations by $3,000. B. increases cash flow from operations by $6,000. C. decreases cash flow from operations by $6,000. D. decreases cash flow from operations by $3,000.
Distinguish between the accounting information system and the management information system
Provide a description of the contents of each of the following components of the annual report.
