For Units That Are Completed and Transferred Out in a Firm

question 21

Multiple Choice

For units that are completed and transferred out in a firm that uses the weighted average method of process costing:

• A)the number of units that came from beginning inventory is the same as the number of units that were started during the period.
• B)the number of equivalent units for direct materials is the same as the number of equivalent units for conversion cost.
• C)the number of equivalent units is less than the number of physical units.
• D)the number of equivalent units is more than the number of physical units.

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Definitions:

Objectively

In a manner that is based on unbiased facts and evidence, without influence from personal feelings or opinions.

Dichotomous Thinking

A cognitive distortion involving seeing things in black and white categories, without recognizing the continuum or grey areas in between.

Selective Abstraction

A cognitive distortion where an individual focuses on a single negative detail or event, often out of context, leading to a skewed perception of reality.

Overgeneralizing

A cognitive distortion where an individual makes broad interpretations from a single or few events, often leading to negative thinking patterns.