Hayek corporation uses the FIFO method in its process costing. The following data concern the company's Mixing Department for the month of August. Work in process, August 1 Cost added to production in the Mixing Department during August Equivalent units of production for August Materials Conversion $31,734 $30,320 $91,332 $81,864 7,740 7,580 Required: What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using the FIFO method?
Hayek corporation uses the FIFO method in its process costing. The following data concern the company's Mixing Department for the month of August. Work in process, August 1 Cost added to production in the Mixing Department during August Equivalent units of production for August Materials Conversion $31,734 $30,320 $91,332 $81,864 7,740 7,580 Required: What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using the FIFO method?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Hayek corporation uses the FIFO method in its process
costing. The following data concern the company's Mixing
Department for the month of August.
Work in process, August 1
Cost added to production in the
Mixing Department during August
Equivalent units of production for
August
Materials Conversion
$31,734 $30,320
$91,332 $81,864
7,740
7,580
Required:
What are the cost per equivalent unit for materials and the
cost per equivalent for conversion for the Mixing
Department for August using the FIFO method?
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