am. 102. Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The followinginformation pertains to operations for November. (CMA adapted)Work in process, November 1stStarted in production during NovemberWork in process, November 30thUnits16,800108,00024,800The beginning inventory was 70% complete as to materials and 10% complete as to conversion costs. The ending inventory was 80%complete as to materials and 30% complete as to conversion costs.Costs pertaining to November are as follows:Beginning inventory: direct materials, $55,360; direct labor, $21,120; manufacturing overhead, $16,040.Costs incurred during the month: direct materials, $476,000; direct labor, $190,880; manufacturing overhead, $399,160.What is the equivalent unit cost for materials assuming Bentley uses first-in, first-out (FIFO) process costing?

FIFO is first in first method that is used under process costing. In this method, units that are…

Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The followin information pertains to operations for November. (CMA adapted) Work in process, November 1st Started in production during November Work in process, November 30th Units 16,800 108,000 24,800 The beginning inventory was 70% complete as to materials and 10% complete as to conversion costs. The ending inventory was complete as to materials and 30% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $55,360; direct labor, $21,120; manufacturing overhead, $16,040. Costs incurred during the month: direct materials, $476,000; direct labor, $190,880; manufacturing overhead, $399,160. What is the equivalent unit cost for materials assuming Bentley uses first-in, first-out (FIFO) process costing?

Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The followin information pertains to operations for November. (CMA adapted) Work in process, November 1st Started in production during November Work in process, November 30th Units 16,800 108,000 24,800 The beginning inventory was 70% complete as to materials and 10% complete as to conversion costs. The ending inventory was complete as to materials and 30% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $55,360; direct labor, $21,120; manufacturing overhead, $16,040. Costs incurred during the month: direct materials, $476,000; direct labor, $190,880; manufacturing overhead, $399,160. What is the equivalent unit cost for materials assuming Bentley uses first-in, first-out (FIFO) process costing?

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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