During August,the Filtering Department of Union Square,Inc

question 88

Multiple Choice

During August,the Filtering Department of Union Square,Inc.had a beginning Work-in-Process Inventory balance of 150 units with costs of $55,000.During the month,it started and completed 280 units.It had 30 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) 150 units
• B) 460 units
• C) 310 units
• D) 250 units

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Definitions:

Quality of Receivables

An assessment of the likelihood that the amounts owed to a business by its debtors will be collected.

Likelihood of Collection

An assessment of the probability that accounts receivable or other debts will be successfully collected from debtors.

Factoring Fee

A charge assessed by a factoring company for providing cash advances to businesses by purchasing their accounts receivable at a discount.

Accounts Receivable

Outstanding payments due to a firm from its clients for delivered services or products yet to be settled.