During September,the Filtering Department of Tithonia,Inc

question 79

Multiple Choice

During September,the Filtering Department of Tithonia,Inc.had a beginning Work-in-Process Inventory of 600 units with costs of $140,000.During the month,it started and completed 800 units.It had 220 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 September under the first-in,first-out (FIFO) method?

• A) 600 units
• B) 1020 units
• C) 1620 units
• D) 380 units

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating the sensitivity of demand to price changes.

Luxury Tax

A tax imposed on expensive goods and services considered to be non-essential or luxurious.

Yachts

Luxurious, privately owned boats that are used for leisure or sports.

Relatively Inelastic

Describes a situation where the demand for a good or service only slightly changes in response to price changes.