Roussey Co

question 38

Multiple Choice

Roussey Co.had the following information for the month of June:
Beginning work-in-process inventory is 30 percent complete as to conversion.Ending work-in-process inventory is 40 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)9,600.
• D)9,000.
• E)7,000.

---

Definitions:

Common Law

A body of law developed through court decisions and case law, rather than through legislative statutes or executive action.

Unaudited Financial Statements

Financial reports not examined and verified by an independent third party (an auditor).

Liable

Responsible by law; legally answerable.

Foreseeable

Foreseeable refers to the ability to predict or anticipate an event or outcome based on current knowledge or reasoning.