Hopple Company Uses a FIFO Process Costing System

question 24

Multiple Choice

Hopple Company uses a FIFO process costing system. Costs in beginning inventory include $9,600 for materials and $8,000 for conversion costs. The following costs were incurred in January for the Dyeing Department: Material is added at the beginning of the process and conversion costs are incurred evenly throughout the process. If equivalent units are 3,200 for materials and 2,800 for conversion, what is the total product cost per unit for a unit completed during January?

• A) $18
• B) $30
• C) $37
• D) $52

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Definitions:

Continuous Variable

A type of variable that can take on an infinite number of values within a range, often used in statistical analysis to measure things like time, temperature, or height.

Distress

Extreme anxiety, sorrow, or pain that can affect mental and physical health.

Hill's ABC-X Model

A framework for understanding and analyzing how families respond to stress and crises, focusing on the interaction of stressors, resources, perceptions, and coping mechanisms.

Cognitive Processes

Mental activities related to thinking, understanding, learning, and remembering.