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

question 73

Multiple Choice

Mullins Corporation uses the first-in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below: The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to:

• A) $51,115
• B) $46,770
• C) $93,540
• D) $60,801

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Definitions:

Glycine

The simplest amino acid with the formula NH2CH2COOH, used in the biosynthesis of proteins.

Alanine

A nonessential amino acid used by the body to build proteins and involved in metabolism.

Aspartic Acid

An amino acid with the formula C4H7NO4, important in the biosynthesis of proteins.

Histidine

An essential amino acid important in many proteins, playing a key role in enzymes and the buffering of pH in blood.