Que Corporation Uses the First-In, First-Out Method in Its Process

question 226

Multiple Choice

Que Corporation uses the first-in, first-out method in its process costing system. Operating data for the Cutting Department for the month of March appear below: According to the company's records, the conversion cost in beginning work in process inventory was $3,705 at the beginning of March. Additional conversion costs of $210,213 were incurred in the department during the month.The cost per equivalent unit for conversion costs for March is closest to:

• A) $3.686
• B) $1.677
• C) $1.756
• D) $1.840

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Definitions:

Performance Improvement Plan

A formal plan developed to help employees improve their performance in specific areas that have been identified as deficient.

Performance Management Plan

The documented plan of performance objectives set for the employee to achieve over the upcoming appraisal period.

Recency Effect

Refers to the psychological phenomenon where the most recently presented information is more likely to be remembered than older information.

Rater Bias

The influence of a reviewer's personal prejudices or preferences on the evaluation of another's performance or work.