(Appendix 4A) Qu 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.
-How many units were started AND completed during the month in the first processing department?
A) 8,400
B) 7,100
C) 6,200
D) 9,300

Question

(Appendix 4A) Qu 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.
-How many units were started AND completed during the month in the first processing department?
A) 8,400 
B) 7,100 
C) 6,200 
D) 9,300

Quizplus · Accepted Answer

FIFO method
Units started and completed during the period = Units started into production during the period - Units in ending work in process inventory = 8,400 - 2,200 = 6,200

(Appendix 4A) Qu Corporation Uses the FIFO Method in Its