Answer the Following Questions Using the Information Below

question 68

Multiple Choice

Answer the following questions using the information below:
The Lumbar Chair Company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 150,000 chairs. During the month, the firm completed 170,000 chairs and transferred them to the Finishing Department. The firm ended the month with 20,000 chairs in ending inventory. All direct materials costs are added at the beginning of the production cycle. Weighted-average costing is used by Lumbar.
-What were the equivalent units for conversion costs for February if the beginning inventory was 70% complete as to conversion costs and the ending inventory was 40% complete as to conversion costs?

• A)178,000
• B)150,000
• C)170,000
• D)190,000

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Definitions:

Social Psychology

The scientific study of how individuals think, feel, and behave in a social context.

Evolutionary

Pertaining to the gradual development of something, often used with reference to the biological evolution of species.

Group Dynamics

The study of the behaviors and psychological processes occurring within a social group or between social groups.

Other People

Refers to individuals outside of oneself, often considered in the context of social interaction, perception, and influence.