A Department Had 65 Units Which Were 20% Complete in Beginning

question 127

Multiple Choice

A department had 65 units which were 20% complete in beginning Goods in Process Inventory.During the current period,77 units were transferred out.Ending Goods in Process Inventory was 30 units which were 20% complete.Using the FIFO method,what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process?

• A) 83
• B) 70
• C) 100
• D) 77
• E) 107

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Definitions:

Nonoperating Activities

Various revenues, expenses, gains, and losses that are unrelated to a company’s main line of operations.

Statement of Cash Flows

A financial report that details the sources and uses of a company's cash during a specific period, showing operations, investing, and financing activities.

Cash Receipts

The money received by a business during a specific period, including amounts received from customers, interest, and dividends.

Statement of Cash Flows

A financial statement detailing the impact of alterations in balance sheet accounts and income on cash and cash equivalents, divided into operating, investing, and financing activities.