Brody Corp

question 47

Multiple Choice

Brody 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 that were 40% completed.13,000 units were started into the process during January.On January 31,the inventory consisted of 650 units that were 70% completed.What would be the equivalent units for conversion cost using the weighted average method?

• A)13,000
• B)13,585
• C)14,105
• D)14,300

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Definitions:

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, technology).

Trade Protection

Measures implemented by governments to regulate international trade and protect domestic industries from foreign competition.

Import-Competing Producers

Manufacturers or firms within an economy that produce goods which are in competition with imported goods from other countries.

Free Trade

International trade left to its natural course without tariffs, quotas, or other restrictions.