Question Content Area Carmelita, Inc., has the following information available: Line Item Description Costs from Beginning Inventory Costs from Current Period Direct materials $2,000 $22, 252 Conversion costs 6, 200 150, 536 At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4, 500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. Assur that the company uses the FIFO process costing method. Round cost per unit figure to the nearest cent when calculating total costs. The total costs that will be transferred to Finished Goods for units started and completed were a. $156,960 b. $161,775 c. $162,855 d. $161,505

Question Content Area Carmelita, Inc., has the following information available: Line Item Description Costs from Beginning Inventory Costs from Current Period Direct materials $2,000 $22, 252 Conversion costs 6, 200 150, 536 At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4, 500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. Assur that the company uses the FIFO process costing method. Round cost per unit figure to the nearest cent when calculating total costs. The total costs that will be transferred to Finished Goods for units started and completed were a. $156,960 b. $161,775 c. $162,855 d. $161,505

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...

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