The Following Information Pertains to Jones Company Materials Are Added at the Start of the Progress

question 29

Multiple Choice

The following information pertains to Jones Company:
$\begin{array}{ll}&\text { Units }\\\text { Work-in-progress inventory, March } 1 \text { (30\% complete) } & 20,000 \\\text { Units transferred in } & 50,000 \\\text { Work-in-progress inventory, March } 31(60 \% \text { complete }) & 16,000\end{array}$
Materials are added at the start of the progress.
How many equivalent units for conversion costs would there be using the FIFO method?

• A)49,600 units
• B)70,000 units
• C)50,000 units
• D)57,600 units

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Definitions:

Self-Employment

The state of working for oneself as a freelance or the owner of a business rather than for an employer.

Goods

Tangible items that are manufactured or produced for sale.

Circumstances

The specific conditions or facts affecting a situation, event, or decision at a certain time.

Evidenced

Evidenced refers to the confirmation or support of a claim, assertion, or fact through the presentation of information, data, or tangible proof.