The Taylor Company Uses a Process Costing System Assume That You Have Calculated a Direct Materials Cost Per

question 123

Multiple Choice

The Taylor Company uses a process costing system.Assume that direct materials are added at the beginning of the period and that direct labor and overhead are added continuously throughout the process.The company uses the FIFO costing method.The following data are available for one of its accounting periods: $$\begin{array} { | l cl| } \hline & \text { Units } \\\text { Beginning work in process } & 26,000& \text { (70 percent complete for conversion costs) } \\\text { Units started } & 180,000 \\\text { Units transferred out } & 191,000 \\\text { Ending work in process } & 15,000 &\text { (60 percent complete for conversion costs) } \\\hline\end{array}$$

Assume that you have calculated a direct materials cost per unit of $4 and a conversion cost per unit of $7.Under this assumption,the ending balance for Work in Process Inventory would be

• A) $82,000.
• B) $165,000.
• C) $99,000.
• D) $123,000.

---

Definitions:

Ethnic Minority Status

Refers to the classification of individuals who belong to groups with distinct cultural, racial, or national backgrounds that are smaller in number compared to the majority population within a society or country.

SES

Short for Socioeconomic Status, which refers to an individual's or group's economic and social position in relation to others, based on income, education, and occupation.

Asian American

A person of Asian descent living in the United States, encompassing a wide range of cultures, languages, and backgrounds.

Special Stressors

Unique or specific sources of stress that affect individuals or groups differently, depending on their circumstances or stages in life.