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 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