Assume No Beginning WIP Inventory

question 65

Multiple Choice

Assume no beginning WIP inventory. The ending WIP inventory is 30% complete for materials. The total number of equivalents for materials would be

• A) less than the units completed.
• B) less than the units started.
• C) equal to the units completed.
• D) equal to the units started.

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Definitions:

Employment

The state of having a paid job or being engaged in a productive activity.

Marginal Wage Cost

The additional cost incurred by an employer for hiring one more unit of labor.

Wage Rate

The amount of money paid to an employee by an employer in exchange for work performed, usually expressed per hour, day, or piece.

Unionization

The process of organizing workers into a union, a collective organization that negotiates with employers over wages, working conditions, and other labor issues.