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

question 321

Multiple Choice

Roger Corporation uses the first-in, first-out method in its process costing system. The following data are taken from the accounting records of a particular department for June: The cost of the 75,000 units transferred out of the department during June is closest to:

• A) $302,500
• B) $263,000
• C) $335,500
• D) $337,500

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Definitions:

Copper

A red-orange metal that is a ductile, malleable element with very high thermal and electrical conductivity.

Cobalt

Cobalt is a chemical element with symbol Co and atomic number 27, known for its use in alloys and magnets.

Sulfur

A yellow, nonmetallic element that exhibits a characteristic smell and plays a vital role in the chemical industry.

Antimony

A brittle, lustrous gray metalloid used in alloys, flame retardants, and electronics, represented by the symbol Sb and atomic number 51.