Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from current Period Direct materials 2,000 $ 22,252 Conversion costs 6,200 150,536 At the beginning of the period, there were 500 units in process that were 60% 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 340 units that were 30% 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. $36.19 b. $35.95 c. $35.89 d. $34.88
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from current Period Direct materials 2,000 $ 22,252 Conversion costs 6,200 150,536 At the beginning of the period, there were 500 units in process that were 60% 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 340 units that were 30% 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. $36.19 b. $35.95 c. $35.89 d. $34.88
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 | 2,000 | $ 22,252 |
| Conversion costs | 6,200 | 150,536 |
At the beginning of the period, there were 500 units in process that were 60% 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 340 units that were 30% 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. |
$36.19
|
|
| b. |
$35.95
|
|
| c. |
$35.89
|
|
| d. |
$34.88
|
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