Moulgadi Corporation Uses the FIFO Method in Its Process Costing

question 45

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 of a completed unit transferred out of the department is closest to:

• A) $63.28
• B) $59.70
• C) $56.06
• D) $71.98

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Definitions:

Political Tradeoffs

The process of making decisions that involve giving up certain advantages to gain others, often in the context of political governance and policy-making.

Automatic System

A cognitive processing system that operates without conscious control, swiftly and often based on learned patterns or instincts.

Deliberate System

Involves thoughtful, analytical, and slow processing of information, often contrasted with automatic or instinctual processing.

Duplex Mind

The duplex mind concept suggests that the human mind has two operational systems: one that is automatic, unconscious, and fast, and another that is controlled, conscious, and slower.