Beginning Inventory for the Month Contained 3,000 Units That Were

question 8

Multiple Choice

Beginning inventory for the month contained 3,000 units that were 35 percent complete with respect to materials.45,000 units were completed and transferred out during the month.4,500 units were in ending inventory, 10 percent complete with respect to materials.The weighted average equivalent units of production for materials for the month would be

• A) 45,000 units.
• B) 47,250 units.
• C) 46,800 units.
• D) 45,450 units.

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Definitions:

Market Price

The price at which goods or services are currently sold on the open market.

Profits

The financial gain calculated as the difference between the revenue earned from sales and the expenses, taxes, and costs incurred in producing those sales.

Short-Run Supply Curve

A graphical representation showing the relationship between the market price of a product and the amount of it that producers are willing to supply in the short term.

Marginal Cost Curve

A graph showing how the cost of producing one more unit of a good varies as the quantity of production increases.