A Company's Beginning Work in Process Inventory Consisted of 20,000

question 137

Multiple Choice

A company's beginning work in process inventory consisted of 20,000 units that were 1/5 complete with respect to direct labor.These beginning units were completed and another 90,000 units were started during the current period.Of those started,60,000 were finished and the remaining 30,000 were one-third complete at the end of the period.Using the weighted-average method,the equivalent units of production were:

• A) 60,000
• B) 74,000
• C) 76,000
• D) 86,000
• E) 90,000

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Definitions:

Cash Paid

The actual outflow of cash from a company to settle obligations or acquire goods and services.

Current Liabilities

short-term financial obligations that are due within one year or within the normal business cycle.

Intangible Assets

Non-physical assets possessed by a company, such as patents, trademarks, and copyrights, that are expected to generate economic benefits.

Financial Information

Data pertaining to the financial status and operations of an entity, including income statements, balance sheets, and cash flow statements.