In May, One of the Processing Departments at Lukman Corporation

question 18

Multiple Choice

In May, one of the processing departments at Lukman Corporation had beginning work in process inventory of $11,000. During the month, $120,000 of costs were added to production and the cost of units transferred out from the department was $94,000. The company uses the FIFO method in its process costing system.
-In the department's cost reconciliation report for May,the total cost to be accounted for would be:

• A)$48,000
• B)$251,000
• C)$262,000
• D)$131,000

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Definitions:

Fair Credit Billing Act

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Disputed Amount

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