A Company Uses a Process Cost Accounting System and the FIFO

question 11

Multiple Choice

A company uses a process cost accounting system and the FIFO inventory valuation method.Its Assembly Department's beginning inventory consisted of 50,000 units,three-fourths complete with respect to direct labor and overhead.The department started and finished 127,500 units this period.The ending inventory consists of 40,000 units that are one-fourth complete with respect to direct labor and overhead.All direct materials are added at the beginning of the process.Goods in Process included direct labor costs of $24,000 and overhead costs of $32,000 for the period.The direct labor cost per equivalent unit is:

• A) $0.126
• B) $0.160
• C) $0.178
• D) $0.213
• E) $0.373

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Definitions:

Evolutionary Social Psychology

A branch of psychology that examines the influence of evolutionary processes on social behaviors and attitudes.

Evolutionary Social Psychology

A theoretical approach that explores how evolutionary biology influences social behaviors, attitudes, and cognitions.

Ethology

The scientific study of animal behavior, often with a focus on behaviors that are innate and observed in natural environments.

Biological Emphasis

An approach focusing on the genetic, neurological, and physical aspects of behavior and mental processes.