Tabet Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below: Beginning work in process inventory Transferred in from the prior department during March Completed and transferred to the next department during March Ending work in process inventory Units 7,300 58,600 60,300 5,600 Multiple Choice Percent Complete with Respect to Conversion 70% 90% According to the company's records, the conversion cost in beginning work in process inventory was $21,949 at the beginning of March. The cost per equivalent unit for conversion costs for March was $6.60. How much conversion cost would be assigned to the units completed and transferred out of the department during March?

Tabet Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below: Beginning work in process inventory Transferred in from the prior department during March Completed and transferred to the next department during March Ending work in process inventory Units 7,300 58,600 60,300 5,600 Multiple Choice Percent Complete with Respect to Conversion 70% 90% According to the company's records, the conversion cost in beginning work in process inventory was $21,949 at the beginning of March. The cost per equivalent unit for conversion costs for March was $6.60. How much conversion cost would be assigned to the units completed and transferred out of the department during March?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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