Simon Productions Company Had a Beginning Work in Process Inventory

question 47

Multiple Choice

Simon Productions Company had a beginning work in process inventory totaling $7,200. During the current period, the company added materials costs of $15,680, labor cost of $13,500 and overhead of $20,100. Equivalent production was 12,000 units, and 9,000 units were completed and transferred to the finished goods inventory. Inventory costs would be determined using a unit cost (rounded to two decimal places) of

• A)$18.83.
• B)$6.28.
• C)$4.11.
• D)$4.71.

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Definitions:

Organizational Concept

A fundamental idea or theory that forms the foundation for designing, operating, and understanding an organization's structure, culture, and processes.

Organizational Language

Words or metaphors and expressions specific to an organization.

Meeting Spaces

Designated areas or rooms reserved for gatherings, conferences, or discussions among members of an organization or group.

Artifact

An object made by a human being, typically one of cultural or historical interest.