A Department Had 12,500 Units Which Were 20% Complete in Beginning

question 13

Multiple Choice

A department had 12,500 units which were 20% complete in beginning Goods in Process Inventory. During the current period 60,000 units were transferred in. Ending Goods in Process Inventory was 15,000 units which were 70% complete. Assume this company uses the Weighted Average method of process costing and direct material is added uniformly throughout the process. What are the equivalent units produced with respect to direct material?

• A) 65,500.
• B) 57,500.
• C) 37,000.
• D) 47,500.
• E) 68,000.

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Definitions:

Talcott Parsons

An American sociologist known for his development of a general theory for the study of society called action theory or the system theory.

Robert Merton

An influential American sociologist known for developing theories such as the strain theory and concepts like self-fulfilling prophecy.

Capitalism

An economic system characterized by private ownership of the means of production and the creation of goods or services for profit in a competitive market.

Karl Marx

A 19th-century philosopher, economist, and revolutionary socialist whose works, including the Communist Manifesto, have had a profound impact on political theory and sociology.