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

FINANCIAL ACCOUNTING
10th Edition
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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FIFO Aluminum processes a single type of aluminum. During the current period the following information was given:
Units Material Costs Conversion Costs
$5,600
66,400
5,000
$5,100
Beginning Inventory
Started During the Current Period
Ending Inventory
20,000
48,000
me:
2,700
All materials are added at the beginning of the production process. The beginning inventory was 25% complete as to conversion, while the ending inventory was
40% completed for conversion purposes.
e:
st Worked:
FIFO Aluminum uses the first - in, first - out system of process costing.
urrent Score
What were the costs assigned to the units transferred out this period (Round intermediary calculations to the nearest cent)?
tempts:
ate Submissi
O A. $144,215
O B. $236,180
O C. $110,195
-8 (1/1)
18.1-2 (1/1
O D. $115,370
|-1 (1/1)
V 18.2-1 (1/1|
-9a (1/1)
1923(1/1
Transcribed Image Text:Changes FIFO Aluminum processes a single type of aluminum. During the current period the following information was given: Units Material Costs Conversion Costs $5,600 66,400 5,000 $5,100 Beginning Inventory Started During the Current Period Ending Inventory 20,000 48,000 me: 2,700 All materials are added at the beginning of the production process. The beginning inventory was 25% complete as to conversion, while the ending inventory was 40% completed for conversion purposes. e: st Worked: FIFO Aluminum uses the first - in, first - out system of process costing. urrent Score What were the costs assigned to the units transferred out this period (Round intermediary calculations to the nearest cent)? tempts: ate Submissi O A. $144,215 O B. $236,180 O C. $110,195 -8 (1/1) 18.1-2 (1/1 O D. $115,370 |-1 (1/1) V 18.2-1 (1/1| -9a (1/1) 1923(1/1
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