Crawford Company Has the Following Equivalent Units for July: Materials

question 14

Short Answer

Crawford Company has the following equivalent units for July: materials 20,000 and conversion costs 18,000.Production cost data are: $\begin{array}{lrr}&\text { Materials }&\text { Conversion }\\\text { Work in process, July } 1 & \$ 3,200 & \$ 1,500 \\\text { Costs added in July } & 25,200 & 21,000\end{array}$
$\text { The unit production costs for July are: }$

$\quad$ Materials $\quad$ Conversion Costs
a. $\quad$ $ 1.26 $\quad$ $ 1.25
b. $\quad$ 1.42 $\quad$$\quad$ 1.17
c. $\quad$ 1.26 $\quad$$\quad$ 1.17
d. $\quad$ 1.42 $\quad$$\quad$ 1.25

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Definitions:

Two-way Classification

A method of organizing data that involves two independent variables to understand the relationship between them and their impact on a dependent variable.

Chi-square Technique

A statistical method used to assess the differences between observed frequencies and expected frequencies in one or more categories.

Qualitative Variables

Variables that describe or categorize attributes or characteristics of a sample or population, without implying any order or numerical value for comparison.

Goodness-of-fit-test

A statistical test used to determine how well sample data fit a distribution from a population with a normal distribution.