Hickman Company Uses a FIFO Process Costing System

question 190

Multiple Choice

Hickman Company uses a FIFO process costing system.The company had 6,000 units that were 75 percent complete as to conversion costs at the beginning of the month.The company started 25,000 units this period and had 8,000 units in ending Work in Process Inventory that were 40 percent complete as to conversion costs.What are equivalent units for material,if material is added at the beginning of the process?

• A)18,500
• B)25,000
• C)26,500
• D)31,000

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Definitions:

Wagner Act

Another name for the National Labor Relations Act of 1935, which established the legal right for workers to join unions and engage in collective bargaining in the United States.

Secret Ballot Elections

A voting method that ensures privacy for voters, allowing them to cast their vote anonymously to prevent influence or coercion.

Bargain

A negotiation process between two or more parties to reach a mutually agreeable outcome.

Wagner Act

A foundational piece of U.S. labor law, officially the National Labor Relations Act of 1935, which established workers' rights to collectively bargain and form unions.