Caston Corp

question 52

Multiple Choice

Caston Corp.uses a FIFO 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 1,000 units that were 40% completed with respect to conversion costs.10,000 units were started into the process during January.On January 31,the inventory consisted of 500 units.Equivalent units for conversion costs were 10,450.What percentage complete was the ending inventory on January 31 with respect to conversion costs?

• A)70%
• B)80%
• C)90%
• D)100%

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Definitions:

Battery Packs

Assemblies of batteries or cells grouped together to provide a desired voltage, capacity, or power density.

Average Functioning Time

The mean time that a system or component operates properly without failure, typically measured over a specified period.

Independent Samples

Samples that are collected from distinct, non-overlapping populations such that the observations in one sample are not related or paired with observations in the other sample(s).

Population Distributions

The spread of characteristics or values within a whole population.