Malmedy Corporation uses the first-in, first-out method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process ? Percent complete with respect to materials 75% Percent complete with respect to conversion 50% Costs in the beginning inventory: Materials cost $ 2,300 Conversion cost $ 3,600 Units started into production during the month 25,200 Units completed and transferred out during the month 24,000 Costs added to production during the month: Materials cost $ 98,750 Conversion cost $ 220,500 Work in process, ending: Units in process 2,000 Percent complete with respect to materials 80% Percent complete with respect to conversion 45% What was the cost per equivalent unit for materials during the month? $5.00 $2.00 $3.95 $4.50
Malmedy Corporation uses the first-in, first-out method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process ? Percent complete with respect to materials 75% Percent complete with respect to conversion 50% Costs in the beginning inventory: Materials cost $ 2,300 Conversion cost $ 3,600 Units started into production during the month 25,200 Units completed and transferred out during the month 24,000 Costs added to production during the month: Materials cost $ 98,750 Conversion cost $ 220,500 Work in process, ending: Units in process 2,000 Percent complete with respect to materials 80% Percent complete with respect to conversion 45% What was the cost per equivalent unit for materials during the month? $5.00 $2.00 $3.95 $4.50
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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Malmedy Corporation uses the first-in, first-out method in its
Work in process, beginning: | |
---|---|
Units in process | ? |
Percent complete with respect to materials | 75% |
Percent complete with respect to conversion | 50% |
Costs in the beginning inventory: | |
Materials cost | $ 2,300 |
Conversion cost | $ 3,600 |
Units started into production during the month | 25,200 |
Units completed and transferred out during the month | 24,000 |
Costs added to production during the month: | |
Materials cost | $ 98,750 |
Conversion cost | $ 220,500 |
Work in process, ending: | |
Units in process | 2,000 |
Percent complete with respect to materials | 80% |
Percent complete with respect to conversion | 45% |
What was the cost per equivalent unit for materials during the month?
$5.00
|
||
$2.00
|
||
$3.95
|
||
$4.50
|
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