The Following Data Were Taken from the Accounting Records of a Company

question 115

Multiple Choice

The following data were taken from the accounting records of a company that uses the FIFO method in its process costing system: Beginning work in process inventory: 20,000 units (materials 100% complete,conversion costs 60% complete)
Started in process during the period: 80,000 units
Ending work in process inventory: 30,000 units (materials 100% complete,conversion
Costs 70% complete)
The equivalent units are

• A) materials, 90,000 units; conversion costs, 89,000 units.
• B) materials, 100,000 units; conversion costs, 91,000 units.
• C) materials, 60,000 units; conversion costs, 53,000 units.
• D) materials, 80,000 units; conversion costs, 79,000 units.

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Definitions:

Visual System

The part of the central nervous system which gives organisms the ability to process visual detail.

Camera

A device for capturing visual images in the form of photographs, film, or video signals.

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The distance between successive crests of a wave, especially points in a sound wave or electromagnetic wave, which determines its color in the spectrum.

Navy-blue Sweater

A garment for the upper body, typically knitted, in a dark blue color associated with naval uniforms.