Use this information about Carmelita Inc. to answer the question that follows. Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $20,200 Conversion costs 6,100 157,100 At the beginning of the period, there were 600 units in process that were 41% 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 300 units that were 34% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method. The cost of completing a unit of product during the current period was (rounded to the nearest cent) a. $53.86 b. $31.70 c. $35.91 d. $43.09
Use this information about Carmelita Inc. to answer the question that follows. Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $20,200 Conversion costs 6,100 157,100 At the beginning of the period, there were 600 units in process that were 41% 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 300 units that were 34% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO cost flow method. The cost of completing a unit of product during the current period was (rounded to the nearest cent) a. $53.86 b. $31.70 c. $35.91 d. $43.09
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
![Use this information about Carmelita
Inc. to answer the question that
follows. Carmelita Inc. has the
following information available: Costs
from Beginning Inventory Costs from
Current Period Direct materials $4,400
$20,200 Conversion costs 6,100
157,100 At the beginning of the period,
there were 600 units in process that
were 41% 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 300 units that were 34%
complete as to conversion costs and
100% complete as to materials costs.
The company uses the FIFO cost flow
method. The cost of completing a unit
of product during the current period
was (rounded to the nearest cent) a.
$53.86 b. $31.70 c. $35.91 d. $43.09](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb82d1a18-4acf-4bfc-ad68-6d7ca2870570%2F83ac5f58-bb34-412f-a437-46f2d5408273%2Fpgyd6t_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Use this information about Carmelita
Inc. to answer the question that
follows. Carmelita Inc. has the
following information available: Costs
from Beginning Inventory Costs from
Current Period Direct materials $4,400
$20,200 Conversion costs 6,100
157,100 At the beginning of the period,
there were 600 units in process that
were 41% 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 300 units that were 34%
complete as to conversion costs and
100% complete as to materials costs.
The company uses the FIFO cost flow
method. The cost of completing a unit
of product during the current period
was (rounded to the nearest cent) a.
$53.86 b. $31.70 c. $35.91 d. $43.09
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