Sparky Corporation Uses the FIFO Method of Process Costing

question 112

Multiple Choice

Sparky Corporation uses the FIFO method of process costing.The following information is available for February in its Molding Department: Units:
Beginning Inventory: 25,000 units,100% complete as to materials and 55% complete as to conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units,100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $43,000.
Costs in beginning Work in Process - Conversion: $48,850.
Costs incurred in February - Direct Materials: $287,000.
Costs incurred in February - Conversion: $599,150.
-Calculate the cost per equivalent unit of materials.

• A)$2.00
• B)$2.05
• C)$1.74
• D)$2.36
• E)$2.61

---

Definitions:

Symbolic Interaction

A sociological perspective focusing on the ways in which individuals interact through symbols like words, gestures, and actions to create social reality.

Social Behavior

Actions and interactions among individuals and groups that influence each other within a society.

Religion

A system of faith and worship, often involving belief in a supernatural power or powers and a code of ethics and rituals.

Educational Outcomes

The measurable results of education, which can include academic achievement, skill development, and intellectual growth, among others.