Nilgiri Corporation Uses the FIFO Method in Its Process Costing

question 42

Multiple Choice

Nilgiri Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are 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.
-What are the equivalent units for materials for the month in the first processing department?

• A)1,680
• B)7,150
• C)8,200
• D)5,200

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Poisson Probabilities

Probabilities that describe the likelihood of a given number of events happening in a fixed interval of time or space, assuming the events occur with a known constant rate and independently of the time since the last event.

Poisson Formula

A mathematical formula used to calculate the probability of a given number of events happening in a fixed interval of time or space, assuming events occur with a known constant mean rate and independently of the time since the last event.