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

question 68

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 weighted-average 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

---

Definitions:

Monopolistically Competitive

A market structure in which many firms sell products that are similar but not identical, allowing for product differentiation.

Perfectly Competitive

Describes a market structure where many firms offer homogeneous products, and no single buyer or seller can influence the market price.

Long-Run Equilibrium

A state in an economy or market where all factors of production are fully employed and economic forces are in balance, persisting over a long period.

MR = MC

A condition in economics where marginal revenue equals marginal cost; it's the optimal production point for firms maximizing their profit.