Marston Corporation Uses the First-In, First-Out Method in Its Process

question 165

Multiple Choice

Marston Corporation uses the first-in, first-out method in its process costing system. The equivalent units of production for March for conversion costs totaled 37,500 units. The beginning work in process inventory in March consisted of 15,000 units, 60% complete with respect to conversion costs. The ending work in process inventory in March consisted of 10,000 units, 75% complete with respect to conversion costs. The number of units started during the month was:

• A) 41,500 units
• B) 34,000 units
• C) 25,000 units
• D) 72,500 units

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Definitions:

Individualists

Persons who prioritize personal goals and self-reliance over group goals and conformity to social norms and collective representations.

Immediate Reward

A reinforcement given instantly after a desired behavior, making it more likely that the behavior will occur again.

Company Loyalty

The dedication an employee feels towards their organization or the ongoing commitment of an individual to a business or company.

Work Rules

Established guidelines or procedures within an organization that dictate expected behaviors and actions of its employees.