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Question: Process costing Maxwell Industries uses the FIFO (first in first out) method in its process costing system. The assembly department had $8,500 in the material cost in its beginning work in process inventory and $92,000 in material cost was added during the period. The equivalent units of production for the material for the period were 23,000. The cost per equivalent unit for materials would A) $1.30 B) $3.30 C) $3.75 D) $4.00 Answer: D) $4.00