Question: Muhares, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records: Total equivalent units of materials: 8,000 Total equivalent units of conversion: 7,400 Units started and completed during the period: 6,500 On the basis of this information, the ending work-in-process inventory's stage of completion is: - 80%. - 70%. -60%. -40%. - some other percentage not listed above.
Question: Muhares, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records: Total equivalent units of materials: 8,000 Total equivalent units of conversion: 7,400 Units started and completed during the period: 6,500 On the basis of this information, the ending work-in-process inventory's stage of completion is: - 80%. - 70%. -60%. -40%. - some other percentage not listed above.
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:Question:
Muhares, which uses a process-costing system, adds material at the
beginning of production and incurs conversion cost evenly throughout
manufacturing. The following selected information was taken from the
company's accounting records:
Total equivalent units of materials: 8,000
Total equivalent units of conversion: 7,400
Units started and completed during the period: 6,500
On the basis of this information, the ending work-in-process inventory's
stage of completion is:
- 80%.
- 70%.
-60%. -40%.
- some other percentage not listed above.
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