Nader Inc.has the following information available: At the beginning of the period,there were 500 units in process that were 40 percent complete as to conversion costs and 100 percent complete as to direct materials costs.During the current period,4,300 units were started and completed.Ending inventory contained 320 units that were 80 percent complete as to conversion costs and 100 percent complete as to direct materials costs.(Assume that the company uses the FIFO costing method. )
-The total costs that will be transferred into the Finished Goods Inventory account of Nader Inc.during the current period are
A)$153,080.
B)$170,880.
C)$171,788.
D)$189,600.

Question

Nader Inc.has the following information available:  At the beginning of the period,there were 500 units in process that were 40 percent complete as to conversion costs and 100 percent complete as to direct materials costs.During the current period,4,300 units were started and completed.Ending inventory contained 320 units that were 80 percent complete as to conversion costs and 100 percent complete as to direct materials costs.(Assume that the company uses the FIFO costing method. )
-The total costs that will be transferred into the Finished Goods Inventory account of Nader Inc.during the current period are
A)$153,080. 
B)$170,880. 
C)$171,788. 
D)$189,600.

Quizplus · Accepted Answer

The total costs transferred into the Finished Goods Inventory account are calculated by summing up the costs of goods manufactured during the period, which is $170,880.

Nader Inchas the Following Information Available: at the Beginning of of the Period,there