The Following Information Is Provided by Dart Manufacturing The Units in Ending WIP Inventory Were 90% Complete for |

question 224

Multiple Choice

The following information is provided by Dart Manufacturing: $$\begin{array} { | l | r | } \hline \text { WIP inventory, January 1 } & \text { 0 units } \\\hline \text { Units started } & 5,000 \\\hline \begin{array} { l } \text { Units completed and } \\\text { transferred out }\end{array} & 2,000 \\\hline \text { WIP inventory, December 31 } & 3,000 \\\hline \text { Direct materials } & \$ 12,500 \\\hline \text { Direct labor } & \$ 16,300 \\\hline \text { Manufacturing overhead } & \$ 8,700 \\\hline\end{array}$$ The units in ending WIP inventory were 90% complete for materials and 60% complete for conversion costs.
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What are the total equivalent units for direct materials?

• A)5,000
• B)2,700
• C)3,000
• D)4,700

Analyze the impact of demand, cost, and industry adjustments on the equilibrium price and quantity in the long run.

Distinguish between constant-cost, increasing-cost, and decreasing-cost industries and their effects on long-run supply.

Recognize the conditions under which long-run equilibrium is achieved in a purely competitive market.

Grasp the concept of resource allocation efficiency in the context of marginal cost and price equality.

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