At the beginning of the month, the Forming Department of Martin Manufacturing had 10,000 units in inventory, 30% complete as to materials, and 10% complete as to conversion. During the month the department started 60,000 units and transferred 62,000 units to the next manufacturing department. At the end of the month, the department had 8,000 units in inventory, 80% complete as to materials and 60% complete as to conversion. If Martin Manufacturing uses the FIFO method of process costing, compute the equivalent units for materials and conversion respectively for the Forming Department.
A. 68,400 materials; 66,800 conversion.
B. 65,400 materials; 65,800 conversion.
C. 58,400 materials; 56,800 conversion.
D. 65,400 materials; 66,800 conversion.
E. 59,000 materials; 61,000 conversion.
Answer: B
You might also like to view...
Corporation ABC is in a highly competitive industry. NGO pressure has been exerted to have this industry change its sourcing policies. ABC decides to publicly announce that it is the first in the industry to change in sourcing policy. Spar and LeMure define this as a ________ response type used to gain a ________ advantage over others in the industry.
A) competitive; pre-emption B) resistance; pre-emption C) pre-emption; competitive D) capitulation; competitive E) resistance; collective
In a corporation, capital resulting from the retention of earnings is entered in the ____________________ account
Fill in the blank(s) with correct word
When a company uses coupon or premium offers in conjunction with the sale of its products, there is no need to record any contingent liability
a. True b. False Indicate whether the statement is true or false
A term in a contract that can reasonably be supplied by the courts is referred to as a(n) ________
A) intent term B) unconditional term C) objective term D) implied term