Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units $8,800 Conversion costs, 3,000 units, 50% completed 5,700 Materials added during May, 10,000 units 25,600 Conversion costs during May Goods finished during May, 11,500 units 31,900 0 May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is: a. $3.19 b. $2.23 c. $2.56 d. $4.07
Department for May, together with data concerning production, are as follows: May 1, work in process: Materials cost, 3,000 units $8,800 Conversion costs, 3,000 units, 50% completed 5,700 Materials added during May, 10,000 units 25,600 Conversion costs during May Goods finished during May, 11,500 units 31,900 0 May 31 work in process, 1,500 units, 50% completed 0 All direct materials are placed in the process at the beginning, and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is: a. $3.19 b. $2.23 c. $2.56 d. $4.07
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...
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