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Penny, Inc

Question 44

Multiple Choice

Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities: Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities: Using the FIFO method, the cost per equivalent unit for materials used during July was A) $10.78 B) $10.33 C) $9.78 D) $10.65 Using the FIFO method, the cost per equivalent unit for materials used during July was


A) $10.78
B) $10.33
C) $9.78
D) $10.65

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