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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?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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:
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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