The Completion Department Transferred 8,000 Units to the Finished Goods

question 75

Multiple Choice

The Completion Department transferred 8,000 units to the finished goods storeroom during a month. There was no beginning work in process inventory, but 1,000 units were still in process at the end of the month, and were 40% complete. Inventory costs at the end of the month were $3.50. What were total production costs for the month?

• A) $28,000.
• B) $29,400.
• C) $30,100.
• D) $31,500. (8,000 + (1,000 x 40%)) x 3.50.

Identify and describe various location services and how they enhance the user experience.

Understand RFID technology, its applications, and its advantages over traditional tracking methods like barcodes.

Recognize the characteristics and benefits of QR codes compared to other forms of data storage.

Comprehend the principles of mobile technology customization and its importance in user experience.

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Definitions:

Perpetual Inventory System

A perpetual inventory system is a method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Gross Method

An accounting approach to recording purchases at their full invoice amount without deducting any cash discounts offered.

Merchandise Return

The process of a customer returning previously purchased goods to the seller, often due to defects or unsatisfaction, which may result in a refund or replacement.

Gross Method

An accounting method for recording purchases at the total invoice cost without deducting any cash discounts at the time of purchase.