Use the Following Data from a Company Using a Process

question 61

Multiple Choice

Use the following data from a company using a process costing system to answer the question(s) below. Beginning Work in Process Inventory on June 1 :
1,000 units - 100 percent complete as to direct materials
80 percent complete as to conversion costs


Units Started During June:
6,500 units

Ending Work in Process Inventory on June 30:
1,200 units - 100 percent complete as to direct materials
40 percent complete as to conversion costs
The FIFO process costing method is used by the company.
Units completed and transferred out of the department during the month totaled

• A) 6,700.
• B) 6,500.
• C) 6,300.
• D) 5,300.

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Definitions:

Niches

Specific segments of the market where specialized products or services can thrive.

Narrow Market Segments

Highly specialized and focused parts of a market defined by unique needs and characteristics, often targeted for niche marketing strategies.

External Analysis

The examination of factors outside an organization that can impact its performance, including market trends and competition.

Strengths

Positive attributes or characteristics within an organization or individual that provide advantages in achieving objectives or competing in the marketplace.