Jolly Company Uses the FIFO Method in Its Process Costing

question 75

Multiple Choice

Jolly Company uses the FIFO method in its process costing system.Beginning inventory in the mixing processing center consisted of 4,000 units,75% complete with respect to conversion costs.Ending work in process inventory consisted of 3,000 units,60% complete with respect to conversion costs.If 12,000 units were transferred to the next processing center during the period,the equivalent units for conversion costs would be:

• A)13,200 units
• B)10,800 units
• C)12,000 units
• D)13,000 units

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Definitions:

Universal Instantiation

A logical rule stating that if something is true for everything in a certain set, then it is true for any specific thing in that set.

Universal Instantiation

A logical rule of inference that allows the derivation of a particular instance from a general statement, often used in formal proofs.

Universal Generalization

A logical rule that states if something is true for all members of a class, it is true in general.

Quantifier Negation

A logical operation that reverses the scope of a quantifier in a statement, changing its overall truth value.