Multiple Choice
Happy Trails,Inc.manufactures railway coaches and uses the FIFO method of process costing to record costs.The Work-in-Process Inventory of the Heating Department on October 1 was 74% complete for materials and 23% complete for conversion costs.On October 31,its ending Work-in-Process Inventory was 84% complete for materials and 41% complete for conversion costs.This means that for the ending inventory,________% of the materials and ________% of the conversion costs were added during October.
A) 74; 41
B) 26; 23
C) 84; 41
D) 41; 84
Correct Answer:
Verified
Correct Answer:
Verified
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