Raphael's Refining Uses a FIFO Process Costing System

Multiple Choice

Raphael's Refining uses a FIFO process costing system. For a particular period, its opening inventory consisted of 100 items (60 per cent complete as to conversion costs) whose costs were $1600 made up of material $300 and conversion cost $1300. During the month, 1000 items were started and 950 were completed. Ending inventory of WIP was one-third complete. There was no spoilage. Costs placed in process during the month were materials $1785 and conversion costs $13 865. Materials are added at the halfway point. What is the amount of cost that would be allocated to goods completed in the period?

A) $16 513
B) $16 900
C) $16 150
D) $14 913