Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,300 $20,400 Conversion costs 5,700 154,100 At the beginning of the period, there were 500 units in process that were 41% 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 300 units that were 33% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The cost of completing a unit during the current period was a.$35.74 b.$42.89 c.$53.61 d.$31.49
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,300 $20,400 Conversion costs 5,700 154,100 At the beginning of the period, there were 500 units in process that were 41% 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 300 units that were 33% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The cost of completing a unit during the current period was a.$35.74 b.$42.89 c.$53.61 d.$31.49
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 | $4,300 | $20,400 |
| Conversion costs | 5,700 | 154,100 |
At the beginning of the period, there were 500 units in process that were 41% 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 300 units that were 33% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO
The cost of completing a unit during the current period was
a.$35.74
b.$42.89
c.$53.61
d.$31.49
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