When Computing the Cost Per Equivalent Unit, the Weighted-Average Method

question 270

Multiple Choice

When computing the cost per equivalent unit, the weighted-average method of process costing considers:

• A) costs incurred during the current period only.
• B) costs incurred during the current period plus cost of ending work in process inventory.
• C) costs incurred during the current period plus cost of beginning work in process inventory.
• D) costs incurred during the current period less cost of beginning work in process inventory.

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Definitions:

Scale Development

The process of designing, testing, and validating a scale or instrument for measurement, typically of attitudes, attributes, or behaviors.

Thurstone Scales

A psychometric scale developed by L. L. Thurstone, used to measure attitudes by asking respondents to agree or disagree with a series of statements, each weighted according to their position on an agree-disagree continuum.

Likert Scale

A Likert scale is a psychometric scale commonly involved in research that employs questionnaires. It is the most widely used approach for scaling responses in survey research, such that the term is often used interchangeably with rating scale, even though the two are not synonymous.

Aptitude

A natural ability to do something or to learn something.