Omega Corporation Uses Process Costing to Calculate the Cost of Manufacturing

question 30

Multiple Choice

Omega Corporation uses process costing to calculate the cost of manufacturing pool systems.Beginning work in process included 30,000 units 60 percent complete.During the month 170,000 units were completed,20,000 units remain in work in process at 80 percent complete.Using the average cost method,the equivalent units are:

• A)170,000
• B)196,000
• C)186,000
• D)190,000

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Definitions:

Pocket Veto

A legislative maneuver by which a president or governor may indirectly veto a bill by taking no action on it, and if Congress adjourns during the time allowed for the bill's signing, the bill dies.

Legislative Session

An official period of time designated by a legislative body to conduct its business, including the passing of laws and other legislative activities.

Presidential Veto

is the power of the President to reject a bill passed by Congress, preventing it from becoming law unless Congress votes to override the veto.

Presidential Vetoes

The power of the President to reject a bill passed by the Congress, which can be overridden only by a two-thirds majority in both houses.