The Information Below Was Obtained from the Records of the First

question 48

Multiple Choice

The information below was obtained from the records of the first processing department of Moore Company for the month of May. The company uses the weighted-average method in its process costing system.
$\begin{array} { |l | r | r | } \hline & \text { Number of Units } & \begin{array} { r } \text { Labour and overhead } \\\text { percentage complete }\end{array} \\\hline \begin{array} { l r r } \text { Work in process inventory, } \\\text { May 1 }\end{array} & 10,000 & 40 \% \\\hline \text { Units started } & 64,000 & \\\hline \begin{array} { l } \text { Completed and transferred } \\\text { out }\end{array} & 60,000 & \\\hline \begin{array} { l } \text { Work in process inventory, } \\\text { May 31 }\end{array} & 14,000 & 70 \% \\\hline\end{array}$
All materials are added at the beginning of the process.

-What are the equivalent units of production for labour and overhead for the month of May?

• A) 60,000 units.
• B) 69,800 units.
• C) 65,800 units.
• D) 73,800 units.

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Definitions:

Transactions

The act of conducting business or other dealings between parties whereby goods, services, or something of value is exchanged.

Depositary Bank

A financial institution that holds and manages the securities of a company, facilitating the exchange of securities and ensuring compliance with the regulations.

Check Collection

The process where banks handle checks from the moment they are deposited until the funds are credited to the depositor's account and debited from the check writer's account.

Payment

The act of giving money or other compensation to settle a debt or obligation.