Colt Company uses a weighted-average process cost system to account for the cost of producing a chemical compound. As part of production, Material B is added when goods are 80% complete. Beginning work- in-process inventory for the current month was 20,000 units, 90% complete. During the month, 70,000 units were started in process, and 65,000 units were completed. There were no lost or spoiled units. If the ending inventory was 60% complete, the total equivalent units for Material B for the month were: Select one: O O O a. 65,000 units b. 90,000 units c. 85,000 units d. 70,000 units
Colt Company uses a weighted-average process cost system to account for the cost of producing a chemical compound. As part of production, Material B is added when goods are 80% complete. Beginning work- in-process inventory for the current month was 20,000 units, 90% complete. During the month, 70,000 units were started in process, and 65,000 units were completed. There were no lost or spoiled units. If the ending inventory was 60% complete, the total equivalent units for Material B for the month were: Select one: O O O a. 65,000 units b. 90,000 units c. 85,000 units d. 70,000 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Colt Company uses a weighted-average process cost system to account for the cost of producing a chemical compound. As part of production, Material B is added when goods are 80% complete. Beginning work-
in-process inventory for the current month was 20,000 units, 90% complete. During the month, 70,000 units were started in process, and 65,000 units were completed. There were no lost or spoiled units. If the
ending inventory was 60% complete, the total equivalent units for Material B for the month were:
Select one:
a. 65,000 units
b. 90,000 units
c. 85,000 units
d. 70,000 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff1ac4a5c-5c91-4743-9545-fc03c7695e62%2F76e44975-dc07-44df-8b63-34b3e8aa44ab%2F27vv8la_processed.png&w=3840&q=75)
Transcribed Image Text:Colt Company uses a weighted-average process cost system to account for the cost of producing a chemical compound. As part of production, Material B is added when goods are 80% complete. Beginning work-
in-process inventory for the current month was 20,000 units, 90% complete. During the month, 70,000 units were started in process, and 65,000 units were completed. There were no lost or spoiled units. If the
ending inventory was 60% complete, the total equivalent units for Material B for the month were:
Select one:
a. 65,000 units
b. 90,000 units
c. 85,000 units
d. 70,000 units
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