Question
In computing percentage of completion of ending work in process, a lower percentage-of-completion was attached to each component of inventory than actually was the case.
In computing percentage of completion of ending work in process, a lower percentage-of-completion was attached to each component of inventory than actually was the case. What is the resultant effect of this error on the calculation of cost per equivalent unit?
a. No effect
b. Understate
c. Overstate
d. Cannot be determined
e. None of these.
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
10th Edition
1111822239, 324639767, 9781111822231, 978-0324639766
