Rippem Company Manufactures Generic Notebooks The Equivalent Units for Materials Are:
A) 80,000
B) 77,000

question 117

Multiple Choice

Rippem Company manufactures generic notebooks. Material is introduced at the beginning of the process in the Printing department. Conversion costs are applied uniformly throughout the process. The weighted- average method of product costing is used. Data for the Printing department for the month of June follow: $$\begin{array}{l}\text { Work- in- process inventory, June } 1\\\begin{array} { l r } \text { Units } & 15,000 \text { units } \\\text { Direct materials (100\% complete) } & \$ 34,000 \\\text { Conversioncosts( } 30 \% \text { complete) } & \$ 14,000 \\& \\\text { Units started in June } & 65,000 \text { units } \\\text { Units completed in June } & 62,000 \\\text { units Work-in-process inventory,June 30 } & 18,000 \\\text { units } & \\\quad ( 100 \% \text { complete as to materials } & \\\text { and } 60 \% \text { complete as to conversioncosts) } \\& \\\text { Direct materials added in June } & \$ 285,000\\\text { Conversioncostsadded in June } & \$ 210,000\end{array}\end{array}$$ The equivalent units for materials are:

• A) 80,000
• B) 77,000
• C) 83,000
• D) 62,000

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Definitions:

Key-Person Insurance

A life insurance policy on a key employee whose death would cause a financial loss to the business.

Homeowners' Insurance

An insurance policy that provides financial protection against losses and damages to an individual's home and assets in the home.

Insurable Interest

A requirement for purchasing insurance, denoting the policyholder must stand to lose financially if the insured event occurs.

Damage

The monetary compensation required by law to be paid to an individual or entity as restitution for harm or injury they have incurred.