[Fact Pattern #1] Kim Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The followinginformationpertainsto operations for the month ofMay. The...

Extracted text: [Fact Pattern #1] Kim Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The followinginformationpertainsto operations for the month ofMay. The beginning inventory was 20% complete for materials and 60% complete for conversion costs. The ending inventory was 40% complete for materials and 90% complete for conversion costs. Costs pertaining to the month of May are as Units follows: Beginning work-in-process inventory,May1 Started in production during May 16,000 • Beginning inventory costs are materials, 100,000 S20,280; direct labor, S20,320; and Completed production during May 92,000 factory overhead, S15,240. Ending work-in-process inventory, May 31 24,000 • Costs incurred during May are materials used, S467,680; direct labor, S182,800; and factory overhead, S389,200. [2] (Refers to Fact Pattern 1) Using the FIFO method, the total cost of units in the ending work-in-process inventory at May 31 is (Round cost per equivalent unit to the nearest penny) A. S153,168 B. S161,640 C. $164,400 D. S156,960