Simon Productions Company Had a Beginning Work in Process Inventory

question 34

Multiple Choice

Simon Productions Company had a beginning work in process inventory totaling $6,000.During the current period,the company added materials costs of $12,300,labor cost of $14,500 and overhead of $18,200.Equivalent production was 12,000 units,and 9,000 units were completed and transferred to the finished goods inventory.Inventory costs would be determined using a unit cost of

• A) $5.67.
• B) $3.75.
• C) $4.25.
• D) $8.50.

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Definitions:

Internally Fair

Refers to practices and policies within an organization that are perceived by employees as just, equitable, and consistent across all members.

Job Evaluation

The process of analyzing and assessing various aspects of a job to determine its relative value or complexity within an organization.

Federal Laws

Statutes enacted by the national government that apply across the entire country and must be adhered to by individuals and organizations alike.

Provincial Laws

Regulations and statutes enacted by the legislative body of a province or state within a country.