Osborne Corporation Uses the FIFO Method in Its Process Costing

question 10

Multiple Choice

Osborne 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.
-The cost per equivalent unit for materials for the month in the first processing department is closest to:

• A)$16.87
• B)$15.65
• C)$15.09
• D)$18.00

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Definitions:

Bystander Effect

A social psychological phenomenon in which individuals are less likely to offer help to a victim when other people are present.

Group Polarization

The inclination of a group to arrive at decisions that are significantly more radical than the original tendencies of its participants.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, policies, or societal expectations.

Sociohistorical Context

The blend of social and historical factors at a specific time that influences behaviors, attitudes, and perceptions.