FIFO Aluminum processes a single type of aluminum. During the current period the following information was given. Units Material Costs Conversion Costs $5,600 5,000 20,000 2,700 $5,100 Beginning Inventory Started During the Current Period Ending Inventory 48,000 66,400 All materials are added at the beginning of the production process. The beginning inventory was 25% complete as to conversion, while the ending inventory wa 40% completed for conversion purposes. FIFO Aluminum uses the first- in, first- out system of process costing. What were the costs assigned to the units transferred out this period (Round intermediary calculations to the nearest cent)? O A. $144,215 O B. $236,180 O C. $110,195 O D. $115,370
FIFO Aluminum processes a single type of aluminum. During the current period the following information was given. Units Material Costs Conversion Costs $5,600 5,000 20,000 2,700 $5,100 Beginning Inventory Started During the Current Period Ending Inventory 48,000 66,400 All materials are added at the beginning of the production process. The beginning inventory was 25% complete as to conversion, while the ending inventory wa 40% completed for conversion purposes. FIFO Aluminum uses the first- in, first- out system of process costing. What were the costs assigned to the units transferred out this period (Round intermediary calculations to the nearest cent)? O A. $144,215 O B. $236,180 O C. $110,195 O D. $115,370
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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