Heathcoat Co

question 15

Multiple Choice

Heathcoat Co.uses process costing to account for the production of canned vegetables.Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process.Beginning inventory consisted of $7,000 in materials and $4,000 in conversion costs.April costs were $36,000 for materials and $40,000 for conversion costs.On April 1,there were 2,000 units in beginning inventory (80% complete) .During April 10,000 units were completed.Ending in process inventory was 4,000 units (100% complete for materials,40% for conversion) .The total cost per unit using the FIFO method would be

• A)$7.9833
• B)$6.9091
• C)$7.0000
• D)$7.2500

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Definitions:

Rightly

In a manner or to an extent that is justified, appropriate, or correct.

Morally Right

Actions or behaviors that are consistent with ethical principles and are considered justifiable and good.

Final Goal

The ultimate objective or ambition that an individual, group, or organization is striving to achieve.

Virtuous Activity

Activities that are conducted in accordance with moral and ethical virtues, promoting character and moral goodness.