Hayek Corporation uses the FIFO method in its process costing. The following data concern the company's Mixing Department for the month of August. Materials Conversion Work in process, August 1 $31,734 $30,320 Cost added to production in the Mixing Department during August $91,332 $81,864 Equivalent units of production for August 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. Materials Conversion Work in process, August 1 $31,734 $30,320 Cost added to production in the Mixing Department during August $91,332 $81,864 Equivalent units of production for August 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?

Name: Hayek Corporation uses the FIFO method in its process costing. The fo
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Description: Hayek Corporation uses the FIFO method in its process costing. The following data concern the company's Mixing Department for the month of August.Materials ConversionWork in process, August 1 $31,734 $30,320Cost added to production in the Mixing Dep

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 24E

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Dublin Brewing Co. uses the process cost system. The following data, taken from the organizations books, reflect the results of manufacturing operations during October: Production Costs Work in process, beginning of period: Costs incurred during month: Production Data: 13,000 units finished and transferred to stockroom Work in process, end of period, 2,000 units one-half completed Required: Prepare a cost of production summary for October.
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Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following unit information for the month of August: The equivalent units of production for conversion costs for the month of August were: a. 87,300 units. b. 88,000 units. c. 92,300 units. d. 92,700 units.
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