Beginning Inventory for the Month Contained 2,000 Units That Were

question 51

Multiple Choice

Beginning inventory for the month contained 2,000 units that were 70 per cent complete with respect to materials. During the month, 60,000 units were completed and transferred out. Ending inventory contained 3,000 units, 20 per cent complete with respect to materials. The weighted average equivalent units of production for materials for the month would be

• A)62,400
• B)63,000
• C)60,600
• D)60,000

---

Definitions:

Incidental Damages

Compensation for reasonable expenses directly arising from a breach of contract, not including consequential damages.

Purchase Price

The total cost that a buyer spends to acquire a product or service.

Market Price

The present rate at which a service or asset is available for purchase or sale on the market.

Contract Price

The agreed-upon amount of money one party will pay another in exchange for the fulfillment of agreed-upon obligations.