Multiple Choice
Painter Corporation
Painter Corporation has the following information for the current month:
| Units started | 100,000 units |
| Beginning Work in Process: (35% complete) | 20,000 units |
| Normal spoilage (discrete) | 3,500 units |
| Abnormal spoilage | 5,000 units |
| Ending Work in Process: (70% complete) | 14,500 units |
| Transferred out | 97,000 units |
| Beginning Work in Process Costs: | |
| Material $15,000 | |
| Conversion 10,000 |
All materials are added at the start of the production process.Painter Corporation inspects goods at 75 percent completion as to conversion.
Refer to Painter Corporation.Assume that the costs per EUP for material and conversion are $1.00 and $1.50,respectively.What is the amount of the period cost for July using FIFO?
A) $0
B) $9,375
C) $10,625
D) $12,500
Correct Answer:
Verified
Correct Answer:
Verified
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