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Chicotti Company Has 6,000 Units in Beginning Work in Process

question 111

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Chicotti Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 75,000 units transferred out to finished goods, and 2,000 units in ending work in process 20% complete as to conversion costs. The beginning and ending inventory is fully complete as to materials costs. How much are equivalent units for conversion costs if the FIFO method is used?


Definitions:

Negative Punishment

A behavior modification technique involving the removal of a desirable stimulus to decrease the probability of an undesirable behavior being repeated.

Negative Reinforcement

A process that strengthens a behavior by removing or reducing an undesirable outcome when the behavior is performed.

Positive Reinforcement

The process of increasing the likelihood of a behavior by following it with the addition of a pleasurable stimulus or reward.

Negative Punishment

A behavior modification technique involving the removal of a desirable stimulus after a particular behavior is exhibited, with the intention of decreasing that behavior.

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