Wong Completed 24,000 Units and Had Another 6,000 Units 45

question 6

True/False

Wong completed 24,000 units and had another 6,000 units 45% complete. The total equivalent units for the period are 26,700.

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Definitions:

Cash

Liquid funds available for use in the form of currency or bank balances.

Treasury Stock

Company-released shares that have been bought back, consequently lowering the overall available shares for trading.

Par Common Stock

The face value of a share of common stock as specified in the corporate charter, with no bearing on the market value.

Fair Market Price

The price at which an asset would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.