Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $22,000 Conversion costs 6,200 157,500 At the beginning of the period, there were 600 units in process that were 44% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,800 units were started and completed. Ending inventory contained 300 units that were 26% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method. The cost of completing a unit of product during the current period was (rounded to the nearest cent) a.$34.52 b.$41.43 c.$30.21 d.$51.78
Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $22,000 Conversion costs 6,200 157,500 At the beginning of the period, there were 600 units in process that were 44% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,800 units were started and completed. Ending inventory contained 300 units that were 26% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method. The cost of completing a unit of product during the current period was (rounded to the nearest cent) a.$34.52 b.$41.43 c.$30.21 d.$51.78
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 | $4,400 | $22,000 |
| Conversion costs | 6,200 | 157,500 |
At the beginning of the period, there were 600 units in process that were 44% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,800 units were started and completed. Ending inventory contained 300 units that were 26% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method.
The cost of completing a unit of product during the current period was (rounded to the nearest cent)
a.$34.52
b.$41.43
c.$30.21
d.$51.78
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