A company uses process costing to value its output. The following was recorded for the period: Input materials 2,000 units at $4.50 per unit Conversion costs 13,340 Normal loss 5% of input valued at $3 per unit Actual loss 150 units There were no opening or closing inventories. What was the valuation of one unit of output to one decimal place? A $11.8 B $11.6 C $11.2 D $11.0
A company uses process costing to value its output. The following was recorded for the period: Input materials 2,000 units at $4.50 per unit Conversion costs 13,340 Normal loss 5% of input valued at $3 per unit Actual loss 150 units There were no opening or closing inventories. What was the valuation of one unit of output to one decimal place? A $11.8 B $11.6 C $11.2 D $11.0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
A company uses
Input materials 2,000 units at $4.50 per unit
Conversion costs 13,340
Normal loss 5% of input valued at $3 per unit
Actual loss 150 units
There were no opening or closing inventories.
What was the valuation of one unit of output to one decimal place?
A $11.8
B $11.6
C $11.2
D $11.0
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