During One Month, 3,000 Units of a Product Were Completed

question 24

Multiple Choice

During one month, 3,000 units of a product were completed and 800 units were 20 percent complete and still in process. The equivalent production for the month is

• A) 3,800 units.
• B) 4,000 units.
• C) 3,040 units.
• D) 3,160 units. 3,000 + (800 x 20%).

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Definitions:

Journal Page

A journal page refers to a sheet or electronic page in an accounting ledger where financial transactions are chronologically recorded.

Cash Advance

A short-term loan from a bank or alternative lender, often accessed through a credit card.

Assets

Resources owned or controlled by a business, expected to produce economic value or future benefits for the company.

Owner's Equity

The amount of ownership interest that the owner of a sole proprietorship or partners in a partnership have in their business, similar to stockholders' equity in a corporation.