Which of the Following Is True Regarding Estimates of Completion

question 103

Multiple Choice

Which of the following is true regarding estimates of completion of units in a process costing system?

• A) estimating the degree of completion with regards to conversion costs is more of a science than an art
• B) estimating the degree of completion with regards to conversion costs is usually easier and more accurate than estimating the degree of completion with regards to direct materials
• C) estimating the degree of completion with regards to direct materials is usually easier and more accurate than estimating the degree of completion with regards to conversion costs
• D) when estimating degree of completion, the degree of completion with regards to conversion costs is usually a portion similar to the degree of completion with regards to direct materials

---

Definitions:

Performance-Based Pay

A compensation strategy that links employee pay directly to their performance outcomes, incentivizing high performance.

Balanced Scorecards

A strategic planning and management system used for aligning business activities to the vision and strategy of the organization.

Domains

Refers to specific areas of interest, expertise, or activity, such as technology, biology, or education, which are used for organizing knowledge or resources.

Performance

The level of accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed.