Stoltenberg Co Beginning Work-In-Process Inventory Is 30 Percent Complete as to Conversion

question 102

Multiple Choice

Stoltenberg Co. had the following information for the month of June: $\begin{array}{lr}\text { Work in process beginning inventory, June } 1 & 2,000 \text { units } \\\text { Units transferred in } & 16,000 \text { units } \\\text { Work in process ending inventory, June } 30 & 4,000 \text { units }\end{array}$ Beginning work-in-process inventory is 30 percent complete as to conversion. Ending work-in-process inventory is 50 percent complete as to conversion. Materials are added at the end of the process.
The equivalent units for transferred-in costs under the FIFO method are calculated to be:

• A) 12,000.
• B) 10,000.
• C) 14,000.
• D) 16,000.
• E) 18,000.

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Definitions:

Concept

An abstract idea or a mental symbol typically associated with a corresponding object in the real world.

Variable

An element, feature, or factor that is liable to vary or change within the context of a mathematical expression, experiment, or statistical analysis.

Values

Core principles or standards that guide behavior and decision-making.

Ratio

A relationship between two numbers indicating how many times the first number contains the second.