Answer the Following Question(s)using the Information Below

question 8

Multiple Choice

Answer the following question(s) using the information below:
Hawk Ltd.uses process costing in its Fabricating Department.At the beginning of October, it had 12,000 units in beginning work-in-process that were 40% complete with respect to conversion.During October it put 87,000 units into production and completed 89,000 good units.At October 31, there were 3,000 units in ending work-in-process that were 70% complete with respect to conversion.Direct materials are added at the beginning of the process.Inspection occurs at the end of the process and normal spoilage is 6% of good output.Costs related to the beginning inventory were $36,800 for direct materials and $28,600 for conversion costs.During the month, the company issued $280,000 of direct materials and incurred $599,400 of conversion costs.
-Assuming Hawk uses the FIFO method of process costing, the cost of the ending work-in-process inventory is

• A)$23,040.
• B)$23,142.
• C)$28,800.
• D)$28,920.
• E)$19,200.

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Definitions:

Turner

A person who operates a lathe or similar machinery, or in a historical context, a name associated with specific roles in medieval guilds.

Outgroup Member

An individual who is not part of a specific social group or is considered outside the boundary of an in-group.

Ingroup Member

An ingroup member is an individual who identifies as part of a specific group or community, sharing common interests, values, or identities with other members.

Heroically

In a manner showing extreme courage or bravery, often in a way that is admired or idolized.