Grant Corporation the Following Information Is Available for Grant Corporation for the for the Current

question 197

Multiple Choice

Grant Corporation
The following information is available for Grant Corporation for the current month:

• A)$1.49
• B)$1.63
• C)$1.56
• D)$1.44

Normal spoilage (discrete)		1,100 units
Abnormal spoilage		900 units
Ending WIP	(70% complete)	13,000 units
Transferred out		72,500 units
Beginning Work in Process Costs:
	Material	$10,400
	Conversion	13,800
Current Costs:
	Material	$120,000
	Conversion	350,000

All materials are added at the start of production and the inspection point is at the end of the process.
Refer to Grant Corporation.What is cost per equivalent unit for material using weighted average?

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Definitions:

GDP

Gross Domestic Product (GDP) is the total monetary or market value of all finished goods and services produced within a country's borders in a specific time period.

Deficit Spending

The practice of spending more money than is received in revenue, typically referring to government spending that exceeds its receipts.

Opportunity Cost

The expense incurred by not selecting the second best choice while making a decision or opting among alternatives.

Debt Default

The failure to meet the legal obligations of a loan, such as not making scheduled payments on time.