Steven Corporation Uses the FIFO Method in Its Process Costing

question 50

Multiple Choice

Steven Corporation uses the FIFO method in its process costing system. Department A's beginning work in process inventory consisted of 15,000 units, 100% complete with respect to materials and 40% complete with respect to conversion costs. The total cost of this inventory was $31,000. A total of 40,000 units were transferred out during the month. The costs per equivalent unit were computed to be $1.30 for materials and $2.20 for conversion costs. The cost of the units completed and transferred out was:

• A)$140,000
• B)$138,300
• C)$131,700
• D)$118,500

Understand the concepts of primary and secondary growth in plants.

Differentiate between the various modified plant structures and their functions.

Identify tissue distribution differences between monocot and eudicot roots.

Recognize the role of meristems in plant growth and organ development.

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Definitions:

Autonomy

The capacity to make an informed, uncoerced decision; often relates to the ability of individuals to govern themselves.

Blastocyst

An early stage of embryonic development that consists of a sphere of cells enveloping a fluid-filled cavity and a cluster of cells inside known as the inner cell mass.

Embryo

An early stage of development in multicellular organisms, in humans, this refers to the period from fertilization until the eighth week of gestation.

Germinal Zygote

A term describing the earliest stage of embryonic development, immediately following fertilization of an egg by a sperm.