Carmelita, Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period $4,300 7,000 $25,100 145,000 Conversion costs At the beginning of the period, there were 400 units in process that were 41% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,200 units were started and completed, Ending inventory contained 400 units that were 29% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process costing method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. Direct materials The total costs that will be transferred into Finished Goods for units started and completed were Oa. $112975 Ob. $221,054 Oc. $159,120 Od $171.360

Carmelita, Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period $4,300 7,000 $25,100 145,000 Conversion costs At the beginning of the period, there were 400 units in process that were 41% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,200 units were started and completed, Ending inventory contained 400 units that were 29% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process costing method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. Direct materials The total costs that will be transferred into Finished Goods for units started and completed were Oa. $112975 Ob. $221,054 Oc. $159,120 Od $171.360

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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