An Error Was Made by ROC Company in Computing the Percentage-Of-Completion

question 84

Multiple Choice

An error was made by ROC Company in computing the percentage-of-completion of the current year's ending Work-in-Process Inventory.The error resulted in the assignment of a lower percentage of completion to each component of the inventory than actually was the case.There was no beginning Work-in-Process Inventory.What is the effect of this error on (1) cost assigned to cost of goods completed for the period and (2) the computation of costs per equivalent unit? 1 2

• A)Understated Understated
• B)Understated Overstated
• C)Overstated Understated
• D)Overstated Overstated

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Definitions:

Occupational Therapy

A form of therapy aimed at helping individuals develop, recover, or maintain the daily living and work skills necessary for a fulfilling life.

Mental Health Services

A range of services designed to diagnose, treat, and provide support for individuals with mental health disorders or challenges.

Mental Health Professionals

Trained individuals who diagnose, treat, and help prevent mental health and emotional issues, including psychologists, psychiatrists, and counselors.

Paradox of Aging

Positive mental health among older adults who would normally be considered vulnerable.