Assume a Company's Beginning Work in Process Consists of 20,000 $\text { Transferred In\quad Materials\quad Conversion Costs }$

question 28

Short Answer

Assume a company's beginning work in process consists of 20,000 units, 40% complete. Materials are added at the beginning of the process. During the month, 90,000 units are transferred in. The ending work in process consists of 10,000 units, 50% complete.
Using the FIFO method, the equivalent units of production are: $\text { Transferred In\quad Materials\quad Conversion Costs }$
a) $\quad90,000 \quad\quad\quad {90,000} \quad\quad\quad {97,000}$
b) $\begin{array}{lll}110,000 \quad\quad& 100,000 \quad\quad& 105,000\end{array}$
c) $\quad110,000 \quad\quad\quad 92,000 \quad\quad 105,000$
d) $\quad90,000 \quad\quad\quad 100,000 \quad\quad 105,000$

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Definitions:

Independent Variables

Variables that are manipulated or changed in an experiment to test their effects on dependent variables.

Falsifiable

A criterion for a scientific hypothesis, indicating that it can be disproved by experimental or observational evidence.

Many Assumptions

The use of multiple unverified beliefs or hypotheses as the basis for decision-making or reasoning.

Burden of Proof

The obligation on a party in a dispute to provide sufficient evidence to support their claims, typically resting on the party who brings forth the case.