Wingfield, Inc

question 9

Multiple Choice

Wingfield, Inc.uses process costing.Ending Work in Process inventory in the Assembly Department consists of 700 units that are 50% complete with respect to conversion costs.The beginning inventory consisted of 2,000 units.During the month, 6,000 units were started.How many equivalent units will be used in the cost per equivalent unit calculation for conversion costs in the Assembly Department?

• A)7,650 units
• B)7,300 units
• C)8,000 units
• D)6,700 units

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Definitions:

Federal Excise Tax

A tax imposed by the federal government on the sale of specific goods and services, such as gasoline, cigarettes, and alcohol.

Tax Revenue

Income that the government receives from taxation of individuals and businesses.

Excise Tax

A tax levied on specific goods, services, or activities, such as tobacco, alcohol, and gasoline, usually to discourage use or generate revenue.

Consumers

Individuals or entities that purchase goods and services for personal use.