The following data were taken from the accounting records of a company that uses the FIFO method in its process costing system: Beginning work in process inventory: 20,000 units (materials 100% complete, conversion costs 60% complete) Started in process during the period: 80,000 units Ending work in process inventory: 30,000 units (materials 100% complete, conversion costs 70% complete) The
equivalent units are
A) materials, 90,000 units; conversion costs, 89,000 units.
B) materials, 100,000 units; conversion costs, 91,000 units.
C) materials, 60,000 units; conversion costs, 53,000 units.
D) materials, 80,000 units; conversion costs, 79,000 units.
D
You might also like to view...
The primary purpose of an accounting system is to record, organize. summarize, and report useful information to external financial statement users and stakeholders, as well as to company management, who make operating, investing and financing decisions
Indicate whether the statement is true or false
Security risks include ______.
A. theft of data B. late deliveries C. poor product quality D. stock-outs
When my daughter gets older, I ________ her the value of an education, so she won't make the same mistakes I ________
A) will teach/have done B) will teach/did C) will be teaching/did D) will be teaching/do
Rescinding an executory bilateral contract does not qualify as consideration
Indicate whether the statement is true or false