The Debits to Work in Process-Assembly Department for April, Together

question 198

Multiple Choice

The debits to Work in Process-Assembly Department for April, together with data concerning production, are as follows: April 1, work in process:
All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories.The materials cost per equivalent unit for April is

• A)$2.48
• B)$2.08
• C)$2.50
• D)$5.25

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Definitions:

Sold

A term used when a product or service has been exchanged for payment or other consideration.

Interest Payment Dates

Specific dates on which interest on loans or bonds is paid to lenders or bondholders.

Market Value

The current price at which an asset or service can be bought or sold in the market.

Cash

Currency or its equivalents that a company holds and can use to conduct transactions, considered the most liquid form of asset.