Asked by Harpreet Kaur Dhillon on May 31, 2024

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The total cost transferred from the first processing department to the next processing department during the month is closest to:

A) $490,385
B) $579,948
C) $507,800
D) $541,500

Total Cost Transferred

The combined cost of goods or services that is moved from one process or department to another within the same company.

First Processing Department

The initial stage or department in a manufacturing process where raw materials start their transformation into finished products.

Next Processing Department

The subsequent department or stage in the production process that materials or semi-finished products are moved to for further processing.

  • Calculate the total costs transferred from one processing department to the next.
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Verified Answer

ZK
Zybrea KnightJun 06, 2024
Final Answer :
A
Explanation :
FIFO method
Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100 FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100      FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100      FIFO method Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 7,800 - 700 = 7,100