On September 30,the Sorting Department of Java Works Had Ending

question 25

Multiple Choice

On September 30,the Sorting Department of Java Works had ending Work-in-Process Inventory of 30,000 units that was 46% complete for materials and 36% complete for conversion costs.The company uses the FIFO method.This means that for the beginning Work-in-Process Inventory,________% of the materials and ________% of conversion costs were added during October.

• A) 46; 36
• B) 64; 54
• C) 54; 64
• D) 36; 46

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Definitions:

Eurodollar

U.S. dollar-denominated deposits at foreign banks or foreign branches of American banks, used widely in international lending and financing.

LIBOR

The London Interbank Offered Rate, a benchmark interest rate at which major global banks lend to one another.

Money Markets

Financial markets for short-term borrowing and lending, typically dealing with assets that mature in less than one year.

Trillions

A numerical value representing one thousand billion, or 10^12, used in the context of large sums, such as government budgets or the global economy.