During August,the Filtering Department of Olive Inc

question 116

Multiple Choice

During August,the Filtering Department of Olive Inc.had beginning transferred in units of 200 with costs of $50,000.500 units were started in production during the month.It had 100 units in ending Work-in-Process Inventory.Under the first-in-first-out (FIFO) method,current-period equivalent units of production for transferred in units in beginning Work-in-Process Inventory of the Filtering Department is ________.

• A)0 units
• B)500 units
• C)200 units
• D)100 units

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Definitions:

Indirect Materials

Materials used in the production process but not directly traceable to a finished product, often considered part of manufacturing overhead.

Work In Process Inventory

Goods partially completed in the manufacturing process; they are not yet finished products but have moved beyond the raw materials stage.

Process Operations

A method of production that involves continuous processing of materials to produce goods or provide services.

Work In Process Inventory

The account on the balance sheet representing the cost of the incomplete goods that are still in the process of production.