Use the Information Below to Answer the Following Questions

question 144

Multiple Choice

Use the information below to answer the following questions:
Hannish Orchards, a juice manufacturer, uses a process that adds flavouring at the beginning of the process and vitamins and minerals 70% of the way through the process. Conversion costs are evenly distributed. Assume there are no beginning inventories. The company started making 10,000 gallons of the drink, and the 2,000 gallons left in ending WIP were 40% of the way through the process.
Costs incurred during the period were:

-The number of equivalent units for vitamins and minerals at Hannish Orchards is

• A) 8,800.
• B) 10,000.
• C) 8,000.
• D) 2,000.

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Definitions:

Earnings Per Share

Earnings per share (EPS) is a financial metric that represents the portion of a company's profit allocated to each outstanding share of common stock, serving as an indicator of a company's profitability.

Net Income

The amount of profit a company has left over after all expenses and taxes are deducted from total revenue.

Shares Outstanding

The total number of a company's shares of stock that are owned by shareholders, including restricted shares owned by the company’s officers and insiders as well as those held by the public.

Liquid Assets

Assets that can be quickly converted into cash without significant loss of value, facilitating financial flexibility.