Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,900 $21,800 Conversion costs 6,000 145,500 At the beginning of the period, there were 400 units in process that were 42% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 400 units that were 27% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were a.$214,756 b.$169,099 c.$155,295 d.$113,365
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,900 $21,800 Conversion costs 6,000 145,500 At the beginning of the period, there were 400 units in process that were 42% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 400 units that were 27% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were a.$214,756 b.$169,099 c.$155,295 d.$113,365
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Carmelita Inc., has the following information available:
| Costs from Beginning Inventory |
Costs from Current Period |
|
| Direct materials | $4,900 | $21,800 |
| Conversion costs | 6,000 | 145,500 |
At the beginning of the period, there were 400 units in process that were 42% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 400 units that were 27% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO
The total costs that will be transferred into Finished Goods for units started and completed were
a.$214,756
b.$169,099
c.$155,295
d.$113,365
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