Leeds Electronics Uses the FIFO Method in Its Process Costing

question 37

Multiple Choice

Leeds Electronics uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month is 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. According to the company's records, the conversion cost in beginning work in process stock was £92,218 at the beginning of June. Additional conversion costs of £571,618 were incurred in the department during the month.
What was the cost per equivalent unit for conversion costs for the month? (Round your answer to three decimal places) .

• A)£9.410
• B)£7.521
• C)£5.954
• D)£9.220

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Definitions:

Acid Base

Refers to the mechanisms the body uses to maintain its normal acidic (pH less than 7) or basic (pH greater than 7) environment.

Boric Acid

A weak, water-soluble acid used as an antiseptic, insecticide, and flame retardant, among other applications.

Weak Eyewash

Insufficient or ineffective rationalizations or excuses; colloquially, a weak attempt to explain away a problem.

Acid Base

Related to the concepts of acidity and alkalinity, crucial in chemistry, biology, and medicine for maintaining proper pH balance in substances and living organisms.