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

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Definitions:

Significant Figure

A digit in a number that contributes to its precision, indicating the extent of its accuracy.

Unconscious Conflicts

Internal struggles often stemming from repressed thoughts and feelings that lead to psychological tension and symptoms according to psychoanalytic theory.

Hidden Sexual Desires

Unconscious or suppressed sexual feelings that an individual may not be fully aware of or choose not to acknowledge.

Id And Ego

Psychoanalytic terms where the id represents primal desires and the ego the rational part of the psyche that mediates between these desires, reality, and moral standards.