The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Units Material Costs Beginning work in process 90,000 $ 30,000 Started in May 270,000 102,400 Units completed 230,000 Ending work in process 130,000 Required: Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.) Total costs to be accounted for: Cost per equivalent per uni
The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Units Material Costs Beginning work in process 90,000 $ 30,000 Started in May 270,000 102,400 Units completed 230,000 Ending work in process 130,000 Required: Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.) Total costs to be accounted for: Cost per equivalent per uni
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exercise 8-29 (Algo) Compute Costs per Equivalent Unit: FIFO Method (LO 8-5)
The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process):
| Units | Material Costs | |||
| Beginning work in process | 90,000 | $ | 30,000 | |
| Started in May | 270,000 | 102,400 | ||
| Units completed | 230,000 | |||
| Ending work in process | 130,000 | |||
Required:
Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.)
Total costs to be accounted for:
Cost per equivalent per unit:
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