Reference: 16_03
Medina Corp -The Number of Units Transferred to Finished Goods During the the Year

question 173

Multiple Choice

Reference: 16_03
Medina Corp. had the following information available for the year:
$\begin{array}{llr} \text { Beginning inventory of goods in process ( \( 40 \% \) complete,} &200 \text { unit}\\ \$ 1,100) \\ \text {Ending inventory of goods in process (80\% complete) } &400 \text { unit}\\ \text { Total units started during the year} &3,200 \text { unit}\end{array}$

-The number of units transferred to finished goods during the year is:

• A) 3,200 units.
• B) 3,000 units.
• C) 3,400 units.
• D) 3,160 units.
• E) 3,500 units.

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Definitions:

Indirect Materials

Materials that are used in the production process but do not become an identifiable part of the final product.

Opportunity Cost

The value of the best alternative that is foregone by choosing a particular action or decision, important in evaluating the cost of choices.

Alternative

An option among a set of choices in decision-making scenarios.

Total Costs

The sum of all expenses incurred by a business in producing goods or services, including fixed and variable costs.