Use this information about Carmelita Inc. to answer the question that follows. Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $20,200 Conversion costs 6,100 157,100 At the beginning of the period, there were 600 units in process that were 41% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 300 units that were 34% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method. The cost of completing a unit of product during the current period was (rounded to the nearest cent) a. $53.86 b. $31.70 c. $35.91 d. $43.09

Use this information about Carmelita Inc. to answer the question that follows. Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $20,200 Conversion costs 6,100 157,100 At the beginning of the period, there were 600 units in process that were 41% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 300 units that were 34% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method. The cost of completing a unit of product during the current period was (rounded to the nearest cent) a. $53.86 b. $31.70 c. $35.91 d. $43.09

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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