(Appendix 4A)Mukluk Company Uses the FIFO Method in Its Process

question 92

Multiple Choice

(Appendix 4A) Mukluk Company uses the FIFO method in its process costing system.The conversion cost for the month of April is $5.00 per equivalent unit,and the materials cost is $2.90 per equivalent unit.At the beginning of the month,1,000 units were in process,and 100% were complete with respect to materials and 30% were complete with respect to conversion,with a total cost at that point of $2,400.If these units are fully complete by the end of the month,what will be their total cost?

• A) $3,500.
• B) $3,900.
• C) $5,900.
• D) $8,000.

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Definitions:

Future Orientation

The degree to which a culture chooses future rather than immediate results.

High-assertion Culture

A workplace culture that encourages assertiveness, straightforward communication, and standing firm on one's decision or opinion.

Collectivism

A social and economic ideology that emphasizes the priority of group goals over individual goals and the importance of cohesion within social groups.

High-context Cultures

Cultures where communication is highly reliant on contextual cues such as body language, status, and tone of voice, rather than explicit words.