Select the Correct Formula for Computing Equivalent Units for the Period

question 67

Multiple Choice

Select the correct formula for computing equivalent units for the period under the weighted average approach.

• A) Equivalent units = Units transferred
• B) Equivalent units = Units transferred + (Ending inventory units × Percentage complete)
• C) Equivalent units = Units transferred + Ending inventory units
• D) Equivalent units = (Units transferred + Ending inventory units) × Percentage complete

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Definitions:

Uncertified Check

An uncertified check is a personal or business check that has not been verified or guaranteed by the bank upon which it is drawn, as opposed to a certified check.

Good Faith

A principle that denotes honesty or sincerity of intention in the fulfillment of one's duties and agreements.

Breach Of Contract

A violation of any agreed-upon terms and conditions in a binding contract.

Cashier's Check

A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.