The Rugger Company uses a process costing system. During the period, 1,400 were started and 1,200 units were completed and transferred out. The units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion, The cost of materials added during the current period amounted to $31,944; the cost of conversion added during the current period amounted to $30,016. 1. What are equivalent units for materials? 2. What are equivalent units for conversion? 3. What is the cost per equivalent unit for materials? 6. Refer to Table 2. What is the cost per equivalent unit for conversion?

The Rugger Company uses a process costing system. During the period, 1,400 were started and 1,200 units were completed and transferred out. The units at the end of the period were 60% complete regarding materials and 40% complete regarding conversion, The cost of materials added during the current period amounted to $31,944; the cost of conversion added during the current period amounted to $30,016. 1. What are equivalent units for materials? 2. What are equivalent units for conversion? 3. What is the cost per equivalent unit for materials? 6. Refer to Table 2. What is the cost per equivalent unit for conversion?

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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