The Cutting Department's Output During the Period Consists of 22,000

question 28

Multiple Choice

The Cutting Department's output during the period consists of 22,000 units completed and transferred out, and 4,000 units in ending work in process that were 25% complete as to materials and conversion costs. Beginning inventory was 2,000 units that were 25% complete as to materials and conversion costs. Under the FIFO method, what are the equivalent units of production for materials?

• A) 24,300
• B) 22,500
• C) 25,300
• D) 24,000

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Definitions:

Independent Contractors

Workers who provide services to a business under terms specified in a contract or agreement, without being considered employees of the business.

Principal

In finance, it refers to the original sum of money borrowed in a loan or invested, excluding any interest or dividends.

Liable

Subject to legal responsibility, often implying a requirement to compensate for damages or loss caused.

Torts

Civil wrongdoings recognized by law as grounds for a lawsuit, resulting in injury or harm that constitutes the basis for a claim by the injured party.