Oxyrom Corporation Uses the FIFO Method in Its Process Costing

question 37

Multiple Choice

Oxyrom Corporation uses the FIFO method in its process costing system.Operating data for the Brazing Department for the month of November appear below: What were the equivalent units for conversion costs in the Brazing Department for November?

• A)49,040
• B)50,200
• C)43,200
• D)48,280

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Definitions:

Automobile

A wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor.

Planning Fallacy

The tendency to underestimate the time, costs, and risks of future actions while overestimating the benefits, leading to poor planning and time management.

Underestimating

The act of judging something to be of lower quantity, value, or importance than it actually is.

Project

A planned set of interrelated tasks to be executed over a fixed period and within certain costs and other limitations.