Ozogoz Corporation Uses the FIFO Method in Its Process Costing

question 55

Multiple Choice

Ozogoz Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places. The cost per equivalent unit for materials for the month in the first processing department is closest to:

• A)$18.67
• B)$20.94
• C)$19.40
• D)$17.14

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Definitions:

Conditioned Response

A learned response to a specific stimulus as a result of conditioning.

Trace Conditioning

A form of conditioning in which the conditioned stimulus (CS) and unconditioned stimulus (UCS) are presented separately with a time gap in between, requiring the organism to maintain a memory of the CS to elicit a response.

Delayed Conditioning

A classical conditioning paradigm where the conditioned stimulus is presented and continues until the unconditioned stimulus begins, resulting in learning the association between the two stimuli over time.

Backward Conditioning

A conditioning method where the conditioned stimulus is presented after the unconditioned stimulus, often leading to weaker learning.