Photo Frame Company had beginning Work in Process inventory of 1,350 units. There were 3,600 units of product started during the period. Ending Work in Process inventory consisted of 1,650 units that were 50% complete. The total dollar cost associated with production of inventory was $89,500. The cost per equivalent whole unit would be which of the following? (Round your answer to the nearest whole dollar.) $27 $18 $21 $22
Photo Frame Company had beginning Work in Process inventory of 1,350 units. There were 3,600 units of product started during the period. Ending Work in Process inventory consisted of 1,650 units that were 50% complete. The total dollar cost associated with production of inventory was $89,500. The cost per equivalent whole unit would be which of the following? (Round your answer to the nearest whole dollar.) $27 $18 $21 $22
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Photo Frame Company had beginning Work in Process inventory of 1,350 units. There were 3,600 units of product started during the period. Ending Work in Process inventory consisted of 1,650 units that were 50% complete. The total dollar cost associated with production of inventory was $89,500. The cost per equivalent whole unit would be which of the following? (Round your answer to the nearest whole dollar.)
-
$27
-
$18
-
$21
-
$22
Expert Solution
Step 1
Assuming that beginning inventory had 0% work completed in the earlier period.
Cost per equivalent unit = Total cost of production / Equivalent units
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