Merced Corporation Has a Process Costing System and Uses the FIFO

question 73

Multiple Choice

Merced Corporation has a process costing system and uses the FIFO method.For May, the company's beginning work in process inventory was 75% complete with respect to conversion, and the ending work in process inventory was 80% complete with respect to conversion.Information on units processed and conversion costs incurred during May follow: The amount of conversion cost in the ending work in process inventory was:

• A)$84,000
• B)$80,000
• C)$222,700
• D)$68,000

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Definitions:

Flight Of Ideas

A rapid flow of thought, manifesting as quickly changing topics, often seen in manic episodes of bipolar disorder.

Cognitive Flexibility

The mental ability to switch between thinking about two different concepts, and to think about multiple concepts simultaneously.

Increased Alertness

A state of heightened awareness and readiness to respond, often as a result of stimulant consumption or mental focus techniques.

Suicidal Risk

The likelihood that an individual will attempt to take their own life or engage in self-harm behaviors.