The Production Report for Phillips Industries, Which Had No Beginning

question 44

Multiple Choice

The production report for Phillips Industries, which had no beginning inventory at the beginning of the month, included the following information for September: If the equivalent units for September's production were 77,400, how many units were in process at the end of the month, and how complete were they?

• A)9,000; 30%
• B)9,000; 60%
• C)3,000; 90%
• D)6,000; 90%

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Definitions:

Disposable Income

Available financial merits for households towards spending and saving following income tax subtractions.

MPC

Marginal Propensity to Consume, which is the proportion of any additional income that is spent on consumption rather than being saved.

Savings

Money set aside typically in financial instruments, representing deferred consumption or for future use.

Disposable Income

The economic provision for households' saving and spending activities post income tax calculations.