The Following Data Were Taken from the Accounting Records of a Company

question 89

Multiple Choice

The following data were taken from the accounting records of a company that uses the FIFO method in its process costing system:
$\quad$ Beginning work in process inventory:
$\quad$ 20,000 units (materials 100% complete,conversion costs 60% complete)
$\quad$ Started in process during the period:
$\quad$ 80,000 units
$\quad$ Ending work in process inventory:
$\quad$ 30,000 units (materials 100% complete,conversion costs 70% complete)
The equivalent units are

• A)materials,90,000 units;conversion costs,89,000 units.
• B)materials,100,000 units;conversion costs,91,000 units.
• C)materials,60,000 units;conversion costs,53,000 units.
• D)materials,80,000 units;conversion costs,79,000 units.

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Definitions:

Blood

A vital fluid in the body that delivers necessary substances such as nutrients and oxygen to the cells and transports metabolic waste products away.

Fluid

A substance that has no fixed shape and yields easily to external pressure; a gas or (especially) a liquid.

Formed Elements

Cellular components of blood, including red blood cells, white blood cells, and platelets, that are suspended in plasma.

Plasma

The liquid component of blood, in which blood cells are suspended, comprising about 55% of total blood volume.