Which of the Following Statements Is Most Accurate

question 120

Multiple Choice

Which of the following statements is most accurate?

• A) In process costing, estimating the degree of completion of units is usually more accurate for conversion costs than for direct materials.
• B) The weighted average method uses the stage of completion of the current period's beginning goods in process inventory account in calculating equivalent units.
• C) The weighted average method focuses on the total costs and total equivalent units completed to date; this is the major difference between the weighted average method and the FIFO method of calculating equivalent units of production.
• D) The FIFO method of calculating equivalent units of production merges the work and the costs of the beginning inventory with the work and the costs done during the current period.
• E) It is not possible for there to be a significant difference between the cost of completed units between the weighted average and the FIFO methods.

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