Klug Industries adds materials at the beginning of the process in the molding department,which is the first of two stages of its production cycle.Information concerning the materials used in the molding department in August follows: Using the FIFO method,what is the materials cost of the work in process at August 31 (rounded to nearest dollar)?
A)$28,000
B)$29,400
C)$29,639
D)$25,358

Question

Klug Industries adds materials at the beginning of the process in the molding department,which is the first of two stages of its production cycle.Information concerning the materials used in the molding department in August follows:  Using the FIFO method,what is the materials cost of the work in process at August 31 (rounded to nearest dollar)?
A)$28,000 
B)$29,400 
C)$29,639 
D)$25,358

Quizplus · Accepted Answer

The Answer of Klug Industries adds materials at the beginning of the process in the molding department,which is the first of two stages of its production cycle.Information concerning the materials used in the molding department in August follows:  Using the FIFO method,what is the materials cost of the work in process at August 31 (rounded to nearest dollar)?
A)$28,000 
B)$29,400 
C)$29,639 
D)$25,358

Klug Industries Adds Materials at the Beginning of the Process