Use the Following Information for the Next 2 Questions

question 62

Multiple Choice

Use the following information for the next 2 questions.
Gholson, Inc. employs a process costing system in which direct materials are added at the beginning of the process. Direct material costs from the prior period for beginning work in process are $1,250. The current period's direct material costs total $31,500. The company began the period with 500 units, 70% complete, started 10,500 units, and finished the period with 1,000 units, 40% complete.
-Using a FIFO system, the direct material cost per equivalent unit is

• A) $3.00
• B) $2.98
• C) $3.20
• D) $2.55

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Definitions:

Stereotyping

The act of ascribing fixed characteristics to a group of people, disregarding individual diversity.

Self-relevant Information

Information that is directly related to oneself or one's own experiences, often impacting cognitive processes and behaviors.

Possible Selves

The component of the self-concept that includes individuals' ideas about what they might become, what they would like to become, and what they are afraid of becoming.

Feel Bad

A general state of discomfort, sadness, or feeling upset, often in response to a particular situation or set of circumstances.