Assume There Was No Beginning Work in Process Inventory and the Ending

question 90

Multiple Choice

Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to conversion costs. Under the weighted-average method, the number of equivalent units of production with respect to conversion costs would be:

• A) the same as the units completed.
• B) less than the units completed.
• C) the same as the units started during the period.
• D) less than the units started during the period.

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Definitions:

Cost Center

A business division that incurs costs but directly does not generate revenues, its performance being measured through cost control.

Level of Management

The different stages or tiers in an organization's hierarchy, each with specific responsibilities, ranging from top executives to middle managers to front-line supervisors.

Responsibility Accounting

The process of measuring and reporting operating data by areas of responsibility.

Responsibility Centers

Responsibility centers refer to distinct segments or areas within a company for which individual managers are accountable for revenue, costs, or investments.