If 10,000 Units Which Were 50% Completed Are in Process

question 58

True/False

If 10,000 units which were 50% completed are in process at November 1, 90,000 units were completed during November, and 20,000 were 20% completed at November 30, the number of equivalent units of production for November was 90,000. (Assume no loss of units in production and that inventories are costed by the first-in, first-out method.)

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Definitions:

Triassic

The first period of the Mesozoic Era, occurring approximately 252 to 201 million years ago, marked by the recovery of life forms from the Permian extinction.

Carboniferous

A geological period around 358.9 to 298.9 million years ago, characterized by the formation of extensive coal beds.

Carbon-14 Dating

A method for determining the age of an object containing organic material by using the properties of radiocarbon.

Zircon Crystals

Mineral crystals that are valuable in dating Earth's geological events due to their uranium and thorium content.