May Company uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below: Units Percentage complete Beginning work in process inventory 19 000 80% Transferred in from the previous department during September 74 000 Ending work in process inventory 17 000 90% According to the company's records, conversion cost in beginning work in process inventory was R83 600 at the beginning of September. Additional conversion costs of R427 682 were incurred in the department during the month. No losses occurred during the month. Calculate the cost per equivalent unit for conversion costs for September. (Round off to three decimal places.) A. R5.779 B. R5.620 C. R5.498 D. R5.500
May Company uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below: Units Percentage complete Beginning work in process inventory 19 000 80% Transferred in from the previous department during September 74 000 Ending work in process inventory 17 000 90% According to the company's records, conversion cost in beginning work in process inventory was R83 600 at the beginning of September. Additional conversion costs of R427 682 were incurred in the department during the month. No losses occurred during the month. Calculate the cost per equivalent unit for conversion costs for September. (Round off to three decimal places.) A. R5.779 B. R5.620 C. R5.498 D. R5.500
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 17E: K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the...
Related questions
Question
100%
May Company uses the FIFO method in its
|
|
Units |
Percentage complete |
|
Beginning work in process inventory |
19 000 |
80% |
|
Transferred in from the previous department during September |
74 000 |
|
|
Ending work in process inventory |
17 000 |
90% |
According to the company's records, conversion cost in beginning work in process inventory was
R83 600 at the beginning of September.
Additional conversion costs of R427 682 were incurred in the department during the month.
No losses occurred during the month.
Calculate the cost per equivalent unit for conversion costs for September. (Round off to three decimal places.)
| A. |
R5.779 |
|
| B. |
R5.620 |
|
| C. |
R5.498 |
|
| D. |
R5.500 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,