Equivalent Units for a Process Costing System Using the FIFO

question 57

Multiple Choice

Equivalent units for a process costing system using the FIFO method would be equal to:

• A)units completed during the period plus equivalent units in the ending work in process inventory.
• B)units started and completed during the period plus equivalent units in the ending work in process inventory.
• C)units completed during the period and transferred out.
• D)units started and completed during the period plus equivalent units in the ending work in process inventory plus work needed to complete units in the beginning work in process inventory.

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Definitions:

Conditioned Stimulus

In classical conditioning, a previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually comes to trigger a conditioned response.

Flooding

A type of psychotherapy technique where an individual is exposed to a large amount of an undesirable stimulus in order to overcome their anxiety or fear.

Fear-evoking Stimuli

Objects, events, or situations that trigger a fear response in an organism, often leading to avoidance behaviors or psychological stress.

Reinforcers

In behavioral psychology, stimuli that increase the likelihood of a behavior being repeated, can be positive or negative.