Wanda Window Panes Inc

question 9

Multiple Choice

Wanda Window Panes Inc. uses a process-costing system for its single product, which is manufactured from Material X. Material X is introduced to the production at the beginning of the manufacturing process whereas conversion activities occur uniformly throughout the process. The company started and completed 40,000 units during the period, and had an ending work-in-process inventory amounting to 8,000 units, 20% complete with respect to conversion activity. Which of the following choices correctly expresses the total equivalent units of production for Material X and conversion activities respectively?

• A)46,000, 41,600
• B)46,000, 46,000
• C)48,000, 40,000
• D)48,000, 41,600
• E)48,000, 46,000

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Definitions:

Credit

An accounting entry that increases liabilities and equity or decreases an asset or expense account.

Note Receivable

A financial asset representing a promise to receive a specific amount of money, plus interest, from another party within a defined time frame.

Return

In finance, it refers to the profit or loss made on an investment over a specified period, expressed as a percentage of the initial investment.

Common Stockholders' Equity

The portion of a company's equity that is attributable to common stockholders, calculated as total assets minus total liabilities minus preferred stock equity.