$ 2,700 Percent complete with respect to materials 60 % Percent complete with respect to conversion 10 % Units started into production during the month 7,000 Materials costs added during the month
$ 2,700 Percent complete with respect to materials 60 % Percent complete with respect to conversion 10 % Units started into production during the month 7,000 Materials costs added during the month
Chapter5: Process Costing
Section: Chapter Questions
Problem 14PB: Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units....
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Question
Garrison Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
The cost per equivalent unit for conversion costs for the first department for the month is closest to: (Round your answer to 2 decimal places.)
Beginning work-in-process inventory: | |||
Units in beginning work-in-process inventory | 600 | ||
Materials costs | $ | 6,600 | |
Conversion costs | $ | 2,700 | |
Percent complete with respect to materials | 60 | % | |
Percent complete with respect to conversion | 10 | % | |
Units started into production during the month | 7,000 | ||
Materials costs added during the month | $ | 102,200 | |
Conversion costs added during the month | $ | 259,200 | |
Ending work-in-process inventory: | |||
Units in ending work-in-process inventory | 1,500 | ||
Percent complete with respect to materials | 55 | % | |
Percent complete with respect to conversion | 10 | % |
$43.96.
|
||
$41.87.
|
||
$42.49.
|
||
$45.00.
|
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