Majesco,which Uses a Process-Costing System,adds Material at the Beginning of Production

question 57

Multiple Choice

Majesco,which uses a process-costing system,adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing.The following selected information was taken from the company's accounting records:
Total equivalent units of materials: 5,000
Total equivalent units of conversion: 4,400
Units started and completed during the period: 3,500
On the basis of this information,the ending work-in-process inventory's stage of completion is:

• A)40%.
• B)60%.
• C)70%.
• D)80%.
• E)some other percentage not listed abovE.

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Definitions:

Diagnostic Test

A procedure used to identify the presence or absence of a condition, disease, or other biological marker.

Malignant Cyst

A cyst that contains cancerous cells; often requires medical intervention to prevent the spread of cancer.

Benign Cyst

A noncancerous, closed pocket of tissue that can be filled with fluid, pus, or other material, often found on or inside the body.

On-time Rates

The percentage of events or activities that occur on schedule, often used as an indicator of efficiency or reliability in service industries.