Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first processing department for a recent month:
Work in process, beginning: Units in process?
Percent complete with respect to materials75%
Percent complete with respect to conversion50%
Costs in the beginning inventory:
Materials cost$ 2,300
Conversion cost$ 3,600
Units started into production during the month25,200
Units completed and transferred out during the month24,000
Costs added to production during the month:
Materials cost$ 98,750
Conversion cost$220,500
Work in process, ending:
Units in process2,000
Percent complete with respect to materials80%
Percent complete with respect to conversion45%
What was the cost per equivalent unit for materials during the month?
A. $2.00
B. $3.95
C. $5.00
D. $4.50
Answers: 2
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Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain t...
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