Asked by Calvin Nowicki on May 28, 2024
Verified
The number of equivalent units of production for the period for conversion if the average cost method is used to cost inventories was
A) 15,650
B) 14,850
C) 18,000
D) 17,250
Equivalent Units
A measure used in process costing to convert partially completed units into an equivalent number of fully completed units.
Conversion
The process of turning a visitor to a website or app into a paying customer.
Work In Process
The value of unfinished goods in the manufacturing process at a specific point in time.
- Calculate equivalent units for conversion and materials using the FIFO and average cost methods.
Verified Answer
VU
Vanessa UrendaJun 03, 2024
Final Answer :
D
Explanation :
The correct answer is determined by calculating the equivalent units of production for conversion costs under the average cost method, which involves accounting for the work done on both the units completed and transferred out and the work in process at the end of the period. Without specific data provided in the question, the correct answer (D) 17,250 is chosen based on the information given.
Learning Objectives
- Calculate equivalent units for conversion and materials using the FIFO and average cost methods.
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