A Company's Beginning Work in Process Inventory Consisted of 20,000

question 137

Multiple Choice

A company's beginning work in process inventory consisted of 20,000 units that were 1/5 complete with respect to direct labor.These beginning units were completed and another 90,000 units were started during the current period.Of those started,60,000 were finished and the remaining 30,000 were one-third complete at the end of the period.Using the weighted-average method,the equivalent units of production were:

• A) 60,000
• B) 74,000
• C) 76,000
• D) 86,000
• E) 90,000

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Definitions:

Economics

Social science that analyzes the choices people and governments make in allocating scarce resources.

Substitute Goods

Products or services that can serve as replacements for each other, satisfying similar customer needs or desires.

Macroeconomic Effect

Refers to the large-scale impacts on an economy, including changes in inflation, unemployment, gross domestic product, and national income.

Microeconomics

studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.