Regina Manufacturing Uses the FIFO Method of Process Costing

question 49

Multiple Choice

Regina Manufacturing uses the FIFO method of process costing.The production report for the Curing Department,where the materials are added at the beginning of the period,for September was as follows: The number of equivalent units for conversion costs during the period was:

• A)13,500
• B)16,500
• C)12,300
• D)14,700

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Definitions:

Internal Centralized

A management structure where decisions are made by a few key individuals or a central body within the organization.

Support Department

A segment within an organization that does not directly add to profit but provides essential services for other departments.

Profit Center

A segment or department within a business that is responsible for generating its own revenue and profit, assessed separate from other areas of the company.

Revenues

The total amount of money received by the company for goods sold or services provided during a certain time period.