Cindy Estrada Is Applying for a Loan and the Bank

question 43

Multiple Choice

Cindy Estrada is applying for a loan and the bank has asked her for some financial information.Use the following data to calculate Cindy's net worth.

• A)$121,025
• B)$129,725
• C)$130,375
• D)$131,025

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Definitions:

Equivalent Units

A measure used in the costing of products in process, which converts partially completed goods into an equivalent number of fully completed units.

Weighted-average

A mathematical calculation that takes into account the varying degrees of importance of the numbers in a data set, assigning more weight to some numbers than others.

Conversion

The process of changing or converting resources into finished goods or services.

Equivalent Units

A concept used in cost accounting to convert the amount of work done on partially finished goods into the number of fully finished units.