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
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
Definition Definition Operation costing method employed to determine the value of a product at each process or stage of the production process, applicable where goods produced from a series of continuous operations or procedure. Process costing is employed by businesses that manufacture goods and where production is in repetitive inflow.
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