Chapter 8, Problem 33E

Compute Costs per Equivalent Unit: FIFO Method

Using the data in Exercise 8-31, compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method.

8-31. Compute Costs per Equivalent Unit: Weighted-Average Method

The Matsui Lubricants plant uses the weighted-average method to account for its work-in-process inventories. The accounting records show the following information for a particular day:

Quantity information is obtained from the manufacturing records and includes the following:

Required

Compute the cost per equivalent unit for direct materials and conversion costs.