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

question 26

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 in work in process on February 28?

• A) $29,680
• B) $42,700
• C) $44,520
• D) $53,200

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Definitions:

Global Firm

A business entity that operates in multiple countries across the world, engaging in international trade or services.

Geocentric

Geocentric pertains to considering Earth as the center, or in business, it represents a global approach where policies and practices are applied universally across a multinational company, disregarding national boundaries.

Human Resources

The department within an organization that is responsible for managing employee-related functions, such as hiring, training, and benefits.

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A management approach or organizational structure in which decision-making authority, corporate culture, and major activities are centralized at the main office or headquarters.