Assume the following information: Percent...
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Accounting
Assume the following information:
| Percent Complete | |||||||||||||
| Milling Department | Units | Materials | Conversion | ||||||||||
| Beginning work in process inventory | 200 | 40 | % | 30 | % | ||||||||
| Units started into production during March | 6,200 | ||||||||||||
| Units completed during the period and transferred to the next department | 5,800 | 100 | % | 100 | % | ||||||||
| Ending work in process inventory | 600 | 70 | % | 60 | % | ||||||||
| Milling Department | Materials | Conversion | ||||||
| Cost of beginning work in process inventory | $ | 10,000 | $ | 15,000 | ||||
| Costs added during the period | 292,000 | 385,000 | ||||||
| Total cost | $ | 302,000 | $ | 400,000 | ||||
Using the FIFO method, the total cost of the units completed during the period and transferred out to the next department with respect to materials is closest to:
Multiple Choice
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$279,568.
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$285,302.
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$280,857.
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$282,043.
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