The Assembling Department of Weathercoat Liners,Inc

question 160

Multiple Choice

The Assembling Department of Weathercoat Liners,Inc.had 8000 units in process on December 1 and received 15,000 units from the Sewing Department.The company uses FIFO.Calculate the number of units to account for by the Assembling Department for December.

• A) 23,000 units
• B) 15,000 units
• C) 8000 units
• D) 7000 units

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Definitions:

Compounded Monthly

Interest calculation method where the accumulated interest is added to the principal amount every month, allowing the interest in the next month to be calculated on the increased total.

Interest

Interest is the charge for borrowing money, typically expressed as a percentage of the principal amount per year.

Deposits

Funds placed into an account in a bank or other financial institution for safekeeping.

Compounded Quarterly

Interest on an investment or loan calculated four times per year, adding each quarter's interest to the principal for the calculation of the next quarter's interest.