Sparky Corporation Uses the FIFO Method of Process Costing

question 178

Multiple Choice

Sparky Corporation uses the FIFO method of process costing.The following information is available for February in its Molding Department: Units:
Beginning Inventory: 25,000 units,100% complete as to materials and 55% complete as to conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units,100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $43,000.
Costs in beginning Work in Process - Conversion: $48,850.
Costs incurred in February - Direct Materials: $287,000.
Costs incurred in February - Conversion: $599,150.
-Calculate the equivalent units of conversion.

• A)165,000
• B)130,250
• C)140,000
• D)144,000
• E)110,000

Understand the basic concepts and purposes of data warehousing, data mining, artificial intelligence, and expert systems within the context of business intelligence.

Recognize the role of databases in storing and organizing data effectively and the various operations associated with databases including querying, updating, and data integrity.

Identify different types of software systems (e.g., MIS, DSS, ERP, OSS, NLP) and understand their application in supporting business operations and decision-making processes.

Understand the principles of data staging and how it facilitates the process of integrating data into a data warehouse.

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Definitions:

Self-Interested Politics

Actions and strategies employed by individuals or groups within an organization aimed at advancing personal agendas or interests, often at the expense of others.

Organizational Members

Organizational members are individuals who are part of an organization, contributing to its culture, goals, and overall function.

Internal Networks

Connections and relationships within an organization that facilitate communication and collaboration among its members.

Network Central

Network Central refers to the most interconnected and influential point or element within a network, playing a pivotal role in communication and resources flow.