What Are the Equivalent Units for Materials

question 10

Multiple Choice

What are the equivalent units for materials?

• A) 92,000.
• B) 60,000.
• C) 160,000.
• D) 110,000.

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Definitions:

Depreciation

The process of methodically dividing the expense of a physical asset over its estimated useful life.

Prepaid Services

Expenses paid in advance for services which will be received in the future.

Unearned Fees

Income received by a company for services yet to be provided or completed; recognized as a liability until the service is performed.

Journalize

The process of recording financial transactions in the chronological order in a company's general journal.