Overboard Corporation Uses the FIFO Method in Its Process Costing

question 50

Multiple Choice

Overboard Corporation uses the FIFO method in its process costing system.In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory.Other data for the department for June follow: The cost per equivalent unit for conversion cost is closest to:

• A)$1.75
• B)$1.51
• C)$1.45
• D)$1.98

---

Definitions:

Agnostic

A person who believes that nothing is known or can be known of the existence or nature of God or of anything beyond material phenomena.

No Religious Affiliation

Describes individuals who do not identify with any particular religion or belief system.

Canadians

People originating from or having citizenship in Canada, a country known for its multicultural population and bilingual French-English heritage.

Percentage

A fraction or ratio with 100 understood as the denominator; used in calculating rates, proportions, and shares.