Schiller Company Has Unit Costs of $2 for Materials and $6

question 62

Multiple Choice

Schiller Company has unit costs of $2 for materials and $6 for conversion costs. There are 5,600 units in ending work in process which are 25% complete as to conversion costs, and fully complete as to materials cost. How much is the total cost assigned to the ending work in process inventory if the FIFO method is used?

• A) $19,600
• B) $44,800
• C) $11,200
• D) $8,400

---

Definitions:

Dollar-Denominated Assets

Financial assets such as stocks, bonds, or real estate investments that are valued in U.S. dollars.

Real Value

Real value refers to the worth of a good or service taking into account inflation, providing a more accurate measure over time.

Nominal Income

The amount of money earned in current dollars, without adjustment for inflation or purchasing power.

Aggregate Demand Curve

A curve that shows the total spending on goods and services at each price level within an economy.