The Following Data Were Taken from the Accounting Records of Abacus

question 19

Multiple Choice

The following data were taken from the accounting records of Abacus Company which uses the FIFO method in its process costing system: The equivalent units are:

• A)Material,90,000 units;labor and overhead,89,000 units
• B)Material,100,000 units;labor and overhead,91,000 units
• C)Material,60,000 units;labor and overhead,53,000 units
• D)Material,80,000 units;labor and overhead,79,000 units

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Definitions:

Effective Performance

The degree to which objectives are achieved and the extent to which targeted problems are solved in a timely and cost-efficient manner.

LMX Members

Individuals within an organization who are part of the Leader-Member Exchange theory, entailing a special relationship with leaders based on trust, respect, and mutual obligation.

Strategy Changes

Adjustments or shifts in the methods and plans used by an organization to achieve its long-term goals.

Rapidly Improves

The process of quickly enhancing or increasing the efficiency, quality, or performance of something.