Marten Corporation Uses the FIFO Method in Its Process Costing

question 26

Multiple Choice

Marten Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below: According to the company's records, the conversion cost in beginning work in process inventory was $83,600 at the beginning of September. Additional conversion costs of $427,682 were incurred in the department during the month. The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)

• A)$5.498
• B)$5.779
• C)$5.620
• D)$5.500

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Definitions:

Mediterranean Sea

A body of water connected to the Atlantic Ocean, surrounded by Europe, Africa, and Asia, important for trade and cultural exchange throughout history.

Tainos

Indigenous peoples of the Caribbean, the first Native Americans to encounter Christopher Columbus and his men upon their arrival in the New World.

Lucrative Relations

Relationships, either between countries or businesses, that are highly profitable and beneficial to the parties involved.