Use the Information Below to Answer the Following Questions

question 134

Multiple Choice

Use the information below to answer the following questions:
The Weighted Average method is used for process costing at OxyCorp, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include:

-What are the total equivalent units for direct materials at OxyCorp?

• A) 124,270
• B) 138,700
• C) 147,200
• D) 130,200

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Definitions:

Operating Expenses

Costs associated with the day-to-day functions of a business, excluding the cost of goods sold.

Cost of Goods Sold

An expense reported on the income statement that represents the total cost of products or services that have been sold.

Retained Earnings

Accumulated profits of a company that are not distributed to shareholders as dividends but are reinvested in the business or held as reserves.

Retained Earnings Account

An equity account that represents the accumulated profits of a company that have not been distributed to shareholders as dividends.