Merced Corporation Has a Process Costing System and Uses the First-In

question 37

Multiple Choice

Merced Corporation has a process costing system and uses the first-in, first-out method. For May, the company's beginning work in process inventory was 75% complete with respect to conversion, and the ending work in process inventory was 80% complete with respect to conversion. Information on units processed and conversion costs incurred during May follow: The amount of conversion cost in the ending work in process inventory was:

• A) $84,000
• B) $80,000
• C) $222,700
• D) $68,000

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Definitions:

Cognitive Component

The aspect of attitude that involves beliefs, thoughts, and attributes about a subject.

Affective

Relating to moods, feelings, and attitudes; it denotes the emotional aspect of consciousness.

Behavioral

Pertaining to the actions or reactions of a person or animal in response to external or internal stimuli.

Stereotypes

Oversimplified generalizations about groups of people that often underlie prejudice and discrimination.