Crador Corp Uses a Process Costing System in Which Direct

question 43

Multiple Choice

Crador Corp uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process.Beginning inventory for January consisted of 1,300 units.13,000 units were started into the process during January.On January 31,the inventory consisted of 650 units.Equivalent units for conversion costs were 14,105.What percentage complete was the ending inventory with respect to conversion costs on January 31?

• A)70%
• B)80%
• C)90%
• D)100%

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Definitions:

Dialectical Method

A philosophical methodology, especially associated with Hegel and Marx, emphasizing the resolution of contradictions in historical, social, and intellectual phenomena.

Capitalism

An economic system characterized by private or corporate ownership of goods and services, where investment and the production, distribution, and prices of goods are determined mainly by competition in a free market.

G.W.F. Hegel

A German philosopher best known for his contributions to German idealism, particularly his concepts of the absolute, the dialectic process, and the historical development of consciousness.

Proletariat

The working-class people or those without access to the means of production, who sell their labor to live, according to Marxist theory.