Phantom Company Has Beginning and Ending Work-In-Process Inventories That Are

question 25

Multiple Choice

Phantom Company has beginning and ending Work-in-Process Inventories that are 45% and 10% complete, respectively. Materials are added at the beginning of the process. If first-in, first-out (FIFO) process costing is used, the total equivalent units for materials will equal the number of units:

• A) transferred out during the period.
• B) started and completed during the period.
• C) started into the process during the period.
• D) started into the process plus the units in the ending inventory.

---

Definitions:

Later-Born Children

Siblings who are born after the first child in a family, often discussed in studies of birth order effects.

First-Born Children

Referring to the first child born into a family, often subject to research on birth order effects on personality and development.

Sociable

Inclined to seek and enjoy the company of others; outgoing and friendly.

Peers

Children of the same age. More generally, people of similar background and social standing.