Data for July: Work-in-process inventory, July 1 (38,500 units): Direct materials (95% completed) Conversion (55% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (95% completed) $ 122,650 77,100 $ 199,750 Conversion (55% completed) Cost incurred during July: Direct materials Conversion costs Cost per equivalent unit for conversion under the FIFO method is calculated to be: 92,500 106,750 24,250 $ 182,500 290,500
Data for July: Work-in-process inventory, July 1 (38,500 units): Direct materials (95% completed) Conversion (55% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (95% completed) $ 122,650 77,100 $ 199,750 Conversion (55% completed) Cost incurred during July: Direct materials Conversion costs Cost per equivalent unit for conversion under the FIFO method is calculated to be: 92,500 106,750 24,250 $ 182,500 290,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please do not give solution in image format thanku
![Data for July:
Work-in-process inventory, July 1 (38,500 units):
Direct materials (95% completed)
Conversion (55% completed)
Balance in work in process inventory, July 1
Units started during July
Units completed and transferred
Work-in-process inventory, July 31:
Direct materials (95% completed)
Conversion (55% completed)
Cost incurred during July:
O Direct materials
Conversion costs
Cost per equivalent unit for conversion under the FIFO method is calculated to be:
Multiple Choice
$2.94
$ 122,650
77,100
$ 199,750
$2.35.
92,500
106,750
24,250
$ 182,500
290,500](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F531d22d6-41e3-4ab6-9b43-fd8dca83c239%2Fbf884244-2300-4699-9136-f2ea0078bd3e%2Fnuisjch_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Data for July:
Work-in-process inventory, July 1 (38,500 units):
Direct materials (95% completed)
Conversion (55% completed)
Balance in work in process inventory, July 1
Units started during July
Units completed and transferred
Work-in-process inventory, July 31:
Direct materials (95% completed)
Conversion (55% completed)
Cost incurred during July:
O Direct materials
Conversion costs
Cost per equivalent unit for conversion under the FIFO method is calculated to be:
Multiple Choice
$2.94
$ 122,650
77,100
$ 199,750
$2.35.
92,500
106,750
24,250
$ 182,500
290,500
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