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FIFO Aluminum Processes a Single Type of Aluminum

question 62

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FIFO Aluminum processes a single type of aluminum. During the current period the following information was given:
FIFO Aluminum processes a single type of aluminum. During the current period the following information was given:   All materials are added at the beginning of the production process. The beginning inventory was 35% complete as to conversion, while the ending inventory was 40% completed for conversion purposes. FIFO Aluminum uses the first-in, first-out system of process costing. What were the costs assigned to the units transferred out this period (Round intermediary calculations to the nearest cent) ? A)  $114,391 B)  $118,203 C)  $246,250 D)  $153,004
All materials are added at the beginning of the production process. The beginning inventory was 35% complete as to conversion, while the ending inventory was 40% completed for conversion purposes.
FIFO Aluminum uses the first-in, first-out system of process costing.
What were the costs assigned to the units transferred out this period (Round intermediary calculations to the nearest cent) ?


Definitions:

Prices

The budgetary figure anticipated, demanded, or paid out for something.

Monopolist

A single seller in a market who has significant control over a particular product or service, often with the ability to influence prices.

Total Revenue

The cumulative amount of proceeds a company collects from merchandise sales or service offerings over an established period.

Price Per Unit

The cost assigned to a single unit of a product or service.

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