(Appendix 4A) the Following Information Relates to the Cutting Department

question 38

Multiple Choice

(Appendix 4A) The following information relates to the Cutting Department of Kittina Corporation for the month of February. Kittina uses a FIFO process costing system. All materials at Kittina are added at the beginning of the production process.
On February 1, the work in process inventory account contained $55,620 of material cost and $123,120 of conversion cost. Cost per equivalent unit for February was $3.10 for materials and $7.50 for conversion costs.
-What total amount of cost should be assigned to the units completed and transferred out during February?

• A) $1,743,300
• B) $1,812,600
• C) $1,814,040
• D) $1,922,040

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Definitions:

Settlement Attorney

A legal professional specializing in resolving disputes or finalizing agreements between parties, often in real estate or law settlements.

Closing Represents

The finalization of a transaction or process, such as the closing of a sale or the end of a business operation.

Neutral Third Party

An independent entity or individual who provides unbiased assistance in conflict resolution or decision-making processes.

Buyer And Seller

Parties involved in the transaction of goods or services, where the buyer purchases from the seller.