During August,the Filtering Department of Olive Inc

question 141

Multiple Choice

During August,the Filtering Department of Olive Inc.had beginning transferred in balance of 200 units with costs of $50,000.During the month,it started and completed 250 units.It had 50 units in the ending Work-in-Process Inventory.What is the number of equivalent units of production for transferred in units in the Filtering Department in August under the first-in-first-out (FIFO) method?

• A)200 units
• B)500 units
• C)300 units
• D)100 units

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Definitions:

Common Dividend Payable

Liabilities on a company's balance sheet representing the amount of dividends that are owed to shareholders on common stock.

Shares Outstanding

Shares outstanding refer to all shares currently owned by shareholders, including restricted shares owned by company insiders and share blocks held by institutional investors.

Common Stock

A form of corporate equity ownership, a type of security that represents ownership in a corporation and gives holders voting rights and a share in the company's profits via dividends.

Paid-In Capital

Funds that shareholders contribute to a company in exchange for equity, beyond the par value of the shares.