Hendrix, Inc

question 52

Multiple Choice

Hendrix, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities:
On July 1: Beginning inventories = 750 units, 60% complete
Direct materials cost = $5,925
Conversion costs = $4,095
During July: 15,000 units started
Direct materials added = $150,000
Conversion costs added = $83,520
On July 31: Ending inventories = 1,500 units, 40% complete
Using the weighted average method, the number of equivalent units of material was:

• A) 15,750
• B) 14,250
• C) 15,000
• D) 13,500

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Definitions:

Lockout

A lockout occurs when an employer denies employees access to the workplace.

Impasses

Situations in negotiations (often labor negotiations) where the parties involved are unable to reach an agreement, leading to a deadlock.

Union Actions

Activities undertaken by labor unions, including strikes and negotiations, aimed at securing better conditions for their members.

Bargaining Unit

A group of employees with a clear and identifiable community of interests who are represented by a single labor union in collective bargaining and labor negotiations.