Use the Following Information for Questions

question 28

Multiple Choice

Use the following information for questions
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process.For the month of January, there were no units in the beginning Work in Process inventory; 10,000 units were started into production in January; and there were 4,000 units that were 60% complete in the ending Work in Process inventory at the end of January.The weighted-average method is used.
-What were the equivalent units of production for materials for the month of January?

• A)8,400 equivalent units
• B)14,000 equivalent units
• C)10,000 equivalent units
• D)4,000 equivalent units

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Definitions:

Bonds

Long-term debt securities issued by corporations or governments, promising to pay the bondholder a specified sum of money at future dates.

Issuance

The process of distributing new or existing securities for sale to investors.

Mortgage Note Payable

A liability representing a borrower's obligation to repay a loan secured by property, typically including terms like interest rate and maturity date.

Installment Payments

Payments made over a period of time to settle a debt, typically including both principal and interest components.