Figure 6-7

question 43

Multiple Choice

Figure 6-7.Geller Manufacturing uses a process cost system to manufacture sensors for the security industry. The following information pertains to operations for the month of March. The beginning inventory was 70% complete for materials and 30% complete for conversion costs. The ending inventory was 905 complete for materials and 50% complete for conversion costs.Costs pertaining to the month of March are as follows:
Beginning inventory costs are: materials, $44,400; conversion cost $30,500.Costs incurred during March are: materials used, $588,000; conversion cost $624,000.
-Refer to Figure 6-7. Using the weighted average method the total equivalent units of production for direct materials is

• A) 120,000.
• B) 118,600.
• C) 116,000.
• D) 105,000.

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Definitions:

Corporate Bond Interest

The income investors receive as payment for lending money by purchasing bonds issued by a corporation.

Tax Purposes

Considerations or actions taken with regard to taxation, such as reporting income, deductions, and credits.

Bonds Redeemed Early

The process by which an issuer repays the principal amount of bonds before their maturity date.

Redemption Price

The amount paid to redeem a security or investment, often found in the terms of bonds or preferred stock.