A Process Costing System Was Used for a Department That $\text { Equivalent Units for Weighted Aver age cmnpared to FIFO }$

question 121

Multiple Choice

A process costing system was used for a department that began operations in January 2020. Approximately the same number of physical units, at the same degree of completion, were in work-in-process at the end of both January and February. Monthly conversion costs are allocated between ending work-in-process and units completed. Compared to the FIFO method, would the weighted-average method use the same or a greater number of equivalent units to calculate the monthly allocations? (CPA adapted)
$\text { Equivalent Units for Weighted Aver age cmnpared to FIFO }$

$\begin{array}{l}& \text { January } & \text { February } \\\end{array}$
A. $\begin{array}{l} & \text { Same } &&\text { Same }\\\end{array}$
B. $\begin{array}{l} & \text { Greater } & \text { Same } \\\end{array}$
C. $\begin{array}{l} & \text { Greater } & \text { Greater } \\\end{array}$
D. $\begin{array}{l}& \text { Same } && \text { Greater } \\\end{array}$

• A) Option A
• B) Option B
• C) Option C
• D) Option D

Recognize the role of incentive and motivational processes in observational learning.

Identify the impact of observers’ characteristics on their tendency to model behavior.

Comprehend the influence of positive and negative consequences on attention to modeled behavior.

Understand the basic concepts of modeling and observational learning as proposed by Bandura.

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Definitions:

Replacement Summaries

Lists of likely replacements for each job and their relative strengths and weaknesses.

Replacement Charts

Tools used in human resource planning that visualize potential internal candidates for future job openings, indicating their current performance and readiness for promotion.

Strengths And Weaknesses

Attributes or aspects of an individual's personality, skills, or abilities that are considered positive (strengths) or negative (weaknesses).

Human Resource Planning

The process of forecasting an organization's future human resource needs and developing strategies for fulfilling those needs, balancing organizational demands with available workforce supply.