Gibson Corporation Gibson Corporation has the following information for the current month:

Units started	100,00	units
Beginning Work in Process: (35% complete)	20,000	units
Normal spoilage (discrete)	3,500	units
Abnormal spoilage	5,000	units
Ending Work in Process: (70% complete)	14,500	units
Transferred out	97,000	units
Beginning Work in process Costs:
Material	$15,000
Conversion	10,000

All materials are added at the start of the production process. Gibson Corporation inspects goods at 75 percent completion as to conversion.

A) Refer to Gibson Corporation. What are equivalent units of production for material, assuming FIFO?

Select one:

a. 100,000

b. 120,000

c. 96,500

d. 95,000

B) Refer to Gibson Corporation. Assume that the costs per EUP for material and conversion are $1.00 and $1.50, respectively. What is the amount of the period cost for the current month using FIFO?

Select one:

a. $10,625

b. $12,500

c. $9,375

d. $0

C) Refer to Gibson Corporation. Assume that the costs per EUP for material and conversion are $1.00 and $1.50, respectively. Using FIFO, what is the total cost assigned to the transferred-out units (rounded to the nearest dollar)?

Select one:

a. $244,438

b. $237,000

c. $224,938

d. $245,750