Maccari Corporation Uses the FIFO Method in Its Process Costing

question 100

Multiple Choice

Maccari Corporation uses the FIFO method in its process costing system.Operating data for the Casting Department for the month of September appear below: According to the company's records, the conversion cost in beginning work in process inventory was $61,824 at the beginning of September.Additional conversion costs of $206,412 were incurred in the department during the month. The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)

• A)$3.340
• B)$3.220
• C)$3.156
• D)$3.384

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Definitions:

High Risk

Pertains to the potential for significant loss or failure, often used in finance, investment, and project management to describe ventures with uncertain outcomes.

Distinctives

Features or characteristics that clearly differentiate one entity, product, or service from others.

Strategic Sourcing Process

A methodical approach to procurement that focuses on developing supply chains for critical goods and services to reduce costs and improve quality.