Use the Information Below to Answer the Following Questions

question 134

Multiple Choice

Use the information below to answer the following questions:
The Weighted Average method is used for process costing at OxyCorp, direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include:

-What are the total equivalent units for direct materials at OxyCorp?

• A) 124,270
• B) 138,700
• C) 147,200
• D) 130,200

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Definitions:

Sale of Receivables

The process of selling outstanding invoices to a third party in order to receive immediate payment.

Allowance for Doubtful Accounts

An accounting estimate for the portion of accounts receivable that may not be collectible.

Bad Debt Expense

An expense account reflecting estimated uncollectible accounts receivable due to credit sales that are unlikely to be recovered.

Accounts Receivable

Funds owed to a business by its customers for goods or services delivered or used but not yet paid for.