Tepla Corporation Uses the FIFO Method in Its Process Costing

question 55

Multiple Choice

Tepla Corporation uses the FIFO method in its process costing system.Operating data for the Curing Department for the month of March appear below: According to the company's records,the conversion cost in beginning work in process inventory was $40,608 at the beginning of March.The cost per equivalent unit for conversion costs for March was $9.30. How much conversion cost would be assigned to the units completed and transferred out of the department during March?

• A)$562,152
• B)$561,720
• C)$520,800
• D)$521,544

---

Definitions:

Standard Of Living

denotes the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Nominal GDP

Refers to the gross domestic product measured at current market prices, without adjusting for inflation.

Technological Change

A change in the methods of production and product innovation that leads to greater efficiency and productivity.

Unemployment

A situation where individuals who are capable of working and are actively seeking employment are unable to find a job.