Moulgadi Corporation Uses the FIFO Method in Its Process Costing

question 10

Multiple Choice

Moulgadi 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) $23.28
• B) $21.83
• C) $23.96
• D) $19.70

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Definitions:

Still Life

A picture depicting an arrangement of inanimate objects.

Francisco de Zurbarán

A Spanish painter of the Baroque period known for his religious paintings, still lifes, and for his depictions of monks and saints.

Juan Sánchez Cotán

A Spanish Baroque painter, renowned for his pioneering and highly realistic still life paintings.

Guido Reni

An Italian painter of high-Baroque style, renowned for his graceful figures and religious as well as mythological themes.