Mullins Corporation Uses the First-In, First-Out Method in Its Process

Multiple Choice

Mullins Corporation uses the first-in, first-out method in its process costing system. Data concerning the first processing department for the most recent month are listed below: The cost of a completed unit transferred out of the department is closest to: (Round equivalent units to the nearest whole number and round all other intermediate calculations to 2 decimal places.)

A) $57.41
B) $70.64
C) $60.47
D) $52.60