Nettle CoUses Process Costing to Account for the Production of Rubber

question 126

Multiple Choice

Nettle Co.uses process costing to account for the production of rubber balls.Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process.Equivalent units have been calculated to be 12,000 units for materials and 10,000 units for conversion costs.Beginning inventory consisted of $14,000 in materials and $8,000 in conversion costs.April costs were $72,000 for materials and $80,000 for conversion costs.Ending inventory still in process was 4,000 units (100% complete for materials,50% for conversion) .The total cost per unit using the FIFO method would be closest to:

• A)$15.9666
• B)$13.8182
• C)$14.0000
• D)$14.5000

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Definitions:

Environmental Contingences

This term refers to the idea that the environment can shape behavior by presenting or withholding reinforcements or punishments.

Me Self

A concept in psychology referring to the objective aspect of oneself that is observed and known by others, forming part of an individual's self-concept.

Epistemological Self

Knowledge of one’s own personality traits, experiences, and other attributes; also called the me, as opposed to the I or ontological self.

Task Force

A temporary group of individuals formed to accomplish a specific objective, and then dissolved after the completion of the task.