Ozogus Company Uses the FIFO Method in Its Process Costing

question 13

Multiple Choice

Ozogus Company 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)36,600
• B)35,800
• C)39,300
• D)34,800

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Definitions:

Consumer Price Index

An index that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Effective Annualized Rate

The interest rate on an investment or loan on an annual basis, taking compounding into account.

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Effective Interest Rate

The actual annual interest rate that an investor earns or pays, taking into account the effect of compounding over the period.