Forthefunofit Ltd Uses a Process Costing System

question 139

Multiple Choice

Forthefunofit Ltd uses a process costing system. Direct materials are added at the beginning of the process. During January, Department A had a beginning inventory of 2,000 units, 50% complete for conversion costs. During the month 14,000 units were started and there were 1,000 units in ending inventory, 40% complete for conversion costs. Using FIFO process costing, the equivalent units for direct materials for the month were:

• A) 13,600
• B) 16,600
• C) 16,000
• D) 14,000

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Definitions:

Universal Proposition

A type of categorical proposition that makes a claim about all members of a particular category, e.g., "All S are P".

Venn Diagram

A graphical representation using circles to depict sets and how they interrelate via overlapping and distancing.

Categorical Syllogism

A form of reasoning where a conclusion is drawn from two given or assumed propositions (premises) that share a common or middle term.

Enthymeme

A rhetorical argument that leaves out a premise or conclusion, assuming it to be implicitly understood by the audience.