For which of the following are the total associated manufacturing costs under the FIFO method the sum of the prior-period costs plus the costs incurred in the current period to finish the units?
A)beginning work-in-process units
B)ending work-in-process units
C)units started and completed
D)conversion costs

Question

Quizplus · Accepted Answer

The total associated manufacturing costs under the FIFO method for beginning work-in-process units are the sum of the prior-period costs plus the costs incurred in the current period to finish those units. This is because the FIFO method assumes that the first units to be worked on are the first ones to be completed, thus the costs associated with beginning work-in-process units would include any costs carried over from the previous period plus any additional costs needed to complete these units in the current period.

For Which of the Following Are the Total Associated Manufacturing