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question 41

Multiple Choice

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Norton Textile Co. manufactures a variety of fabrics. All materials are introduced at the beginning of production; conversion cost is incurred evenly through manufacturing. The Weaving Department had 2,000 units of work in process on April 1 that were 30% complete as to conversion costs. During April, 9,000 units were completed and on April 30, 4,000 units remained in production, 40% complete with respect to conversion costs.
-The equivalent units of conversion for April total:

• A) 9,000.
• B) 10,600.
• C) 11,200.
• D) 12,000.
• E) 12,600.

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Definitions:

Total Revenue

The combined sum of earnings a company receives for its goods sold and services rendered over a particular time span.

Standardized Product

Goods or services that are uniform in quality and performance, allowing them to be interchangeable.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and ease of entry and exit, leading to no single firm influencing the market price.

Many Buyers

A market condition where there are numerous consumers for a product, enhancing competition and potentially reducing prices.