$ 58,500 37,500 The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 96,000 $ 145,000 395,000 $ 540,000 Materials are added at the beginning of the process. The following quantities have been recorded: . " Beginning inventory, 42,500 partially complete gallons, 50 percent complete with respect to conversion costs. Units started in July, 82,500 gallons. Units transferred out in July, 92,500 gallons. Ending inventory, 32,500 gallons, 65 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials Conversion Costs
$ 58,500 37,500 The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost Conversion cost Total Current costs Materials cost Conversion cost Total $ 96,000 $ 145,000 395,000 $ 540,000 Materials are added at the beginning of the process. The following quantities have been recorded: . " Beginning inventory, 42,500 partially complete gallons, 50 percent complete with respect to conversion costs. Units started in July, 82,500 gallons. Units transferred out in July, 92,500 gallons. Ending inventory, 32,500 gallons, 65 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials Conversion Costs
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Manji
Transcribed Image Text:$ 58,500
37,500
The following cost information is available for July for the Crest Plant at Calvert Company:
Beginning work-in-process inventory
Materials cost
Conversion cost
Total
Current costs
Materials cost
Conversion cost
Total
$ 96,000
$ 145,000
395,000
$ 540,000
Materials are added at the beginning of the process. The following quantities have been recorded:
.
"
Beginning inventory, 42,500 partially complete gallons, 50 percent complete with respect to conversion costs.
Units started in July, 82,500 gallons.
Units transferred out in July, 92,500 gallons.
Ending inventory, 32,500 gallons, 65 percent complete with respect to conversion costs.
Required:
Compute the cost per equivalent unit for direct materials and for conversion costs for July using the FIFO method.
Note: Round your answers to 2 decimal places.
Cost per
Equivalent
Unit
Direct Materials
Conversion Costs
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