Steven Company uses the FIFO method in its process costing system. The following data were taken from the accounting records of a particular department for March: Beginning work-in-progress inventory: € 27,500 (10,000 units; 100% complete like to materials,40% complete like to conversion) Units completed and transferred out during the month: 50,000 units Cost per equivalent unit of production for March: Material € 2.25 Conversion € 2.10 What was the total cost of units transferred out of the department during March? a) €186,600 b) €214,100 c) €217,500 d) €245,000

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A:

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