Department R Had 5,000 Units in Work in Process That

question 52

Multiple Choice

Department R had 5,000 units in work in process that were 75% completed as to labor and overhead at the beginning of the period, 30,000 units of direct materials were added during the period, 32,000 units were completed during the period, and 3,000 units were 40% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was:

• A) 32,450
• B) 29,450
• C) 31,950
• D) 26,000

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Definitions:

Wage Rate

The amount of compensation an employee receives per hour of work.

Diamond Cutters

Skilled professionals who cut and shape diamonds to enhance their value and beauty.

Supply

The total amount of a product or service available for purchase at any given price, determined by factors like production capacity and market demand.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a specific price level, holding all other factors constant.