There Are 35,000 Units Started

question 23

Multiple Choice

There are 35,000 units started. 24,600 were completed and transferred out and the 11,400 remaining units were 55% complete for conversion costs. The total number of equivalent units for conversion costs is

• A)24,600.
• B)30,870.
• C)19,800.
• D)6270.

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Definitions:

Constructive Possession

Refers to the legal doctrine where an individual is deemed to possess something, even if they don't physically have it, due to their power or intention to control it.

Present Intent

Present intent is a legal term referring to a person's immediate intention or determination to perform a particular act or to enter into a contract at the current moment.

Delivery

The process of transferring goods from one party to another.

Personal Property

Tangible or intangible items that belong to an individual or business, excluding real estate.