Jensen Corporation The following information is available for Jensen Corporation for the current month: Started this month 80,000 Beginning WIP (40% complete) Normal Spoilage (discrete) Abnormal spoilage Ending WIP (70% complete) Transferred out Beginning Work in Process Costs: Material Conversion Current Costs: Material Conversion 7,500 1,100 900 $10,400 13,800 units $120,000 350,000 units 13,000 units 72,500 units units units All materials are added at the start of production and the inspection point is at the end of the process. Refer to Jensen Corporation. What is cost per equivalent unit for material using FIFO?
Jensen Corporation The following information is available for Jensen Corporation for the current month: Started this month 80,000 Beginning WIP (40% complete) Normal Spoilage (discrete) Abnormal spoilage Ending WIP (70% complete) Transferred out Beginning Work in Process Costs: Material Conversion Current Costs: Material Conversion 7,500 1,100 900 $10,400 13,800 units $120,000 350,000 units 13,000 units 72,500 units units units All materials are added at the start of production and the inspection point is at the end of the process. Refer to Jensen Corporation. What is cost per equivalent unit for material using FIFO?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Jensen Corporation
The following information is available for Jensen Corporation for the current month:
Started this month
80,000
Beginning WIP
(40% complete)
Normal Spoilage (discrete)
Abnormal spoilage
Ending WIP
(70% complete)
Transferred out
Beginning Work in Process Costs:
Material
Conversion
Current Costs:
Material
Conversion
7,500
a. $1.56
b. $1.63
c. $1.50
d. $1.37
1,100
900
13,000
72,500
$10,400
13,800
$120,000
350,000
units
units
units
units
units
units
All materials are added at the start of production and the inspection point is at the end of the process.
Refer to Jensen Corporation. What is cost per equivalent unit for material using FIFO?
Select one:
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