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Compute unit costs. (LO 5), AP
Production costs chargeable to the Finishing Department in May at Kim Company are materials $8,000. labor $20,000. overhead $18,000, and transferred-in costs $67,000. Equivalent units of production are materials 20,000 and conversion costs 19,000. Kim uses the FIFO method to compute equivalent units. Compute the unit costs for materials and conversion costs. Transferred-in costs are considered materials costs.
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