The Following Unit Data Were Assembled for the Heating Process

question 57

Multiple Choice

The following unit data were assembled for the heating process of Morgan Processing,Inc.,for the month of August.Direct materials are added at the beginning of the process.Conversion costs are added uniformly over the production process.The company uses the FIFO process costing method. $\begin{array}{llr}&\text { Units }\\\text { Beginning work in process inventory } &\\ \text { (30 percent complete) } &5,000\\ \text { Units started in August } &44,000\\ \text { Ending work in process } &\\ \text {(60 percent complete) } &4,500\\\end{array}$
The number of equivalent units produced with respect to conversion costs is

• A) 43,700.
• B) 45,700.
• C) 48,200.
• D) 50,200.

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Definitions:

Annual Election

Annual election typically refers to the process of choosing or deciding on options or leadership positions through voting, occurring once every year.

Special Meetings

Gatherings or assemblies called for a specific purpose, outside of the regular schedule, often necessitated by urgent or unique business needs.

Notice

Formal communication or an announcement regarding a particular legal process or requirement that needs to be acknowledged or adhered to.

Business Judgment Rule

A legal principle that protects corporate directors and officers from liability for decisions made in good faith and in the best interests of the corporation.