A Firm Had 800 Units in Its Work in Process

question 28

Multiple Choice

A firm had 800 units in its work in process inventory at the beginning of a month. Of these units, 45 percent were complete with respect to labor, materials, and overhead. The firm transferred 5,700 units to the finished goods inventory during the month. It had 480 units which were 40 percent complete at the end of the month. Equivalent production for the month was

• A)5,892 units.
• B)5,700 units.
• C)6,020 units.
• D)5,380 units.

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Definitions:

Contributed Capital

The total value of money or assets that shareholders have directly invested in a company.

Sarbanes-Oxley Act

The Sarbanes-Oxley Act is a United States federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures made pursuant to the securities laws, and for other purposes.