Puri Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 400 Materials costs$4,800 Conversion costs$3,300 Percent complete with respect to materials 85%Percent complete with respect to conversion 45%Units started into production during the month 5,800 Units transferred to the next department during the month 5,100 Materials costs added during the month$69,500 Conversion costs added during the month$82,300 Ending work in process inventory: Units in ending work in process inventory 1,100 Percent complete with respect to materials 55%Percent complete with respect to
conversion 45% The cost per equivalent unit for conversion costs for the first department for the month is closest to:
A. $16.14
B. $15.96
C. $15.20
D. $18.33
Answer: C
You might also like to view...
Individuals who are in an identity group associated with widely known negative stereotypes may experience:
a. Lack of willingness to go for the hard job b. A shared belief that the stereotype is true c. Stereotype threat d. Lower engagement in organizational activities
The Rosberg family asked their neighbors, the Lowells, to feed their cat while they are away on a vacation. The Lowells fed the cat as they had been asked to but the cat ran away and never returned
What kind of bailment agreement existed between the Rosbergs and the Lowells? A) bailment for the sole benefit of the bailee B) bailment for the sole benefit of the bailor C) mutual benefit bailment D) bailment at will
MRP II systems were weakened because they were unable to interface with all of the following except?
a. A firm’s suppliers b. A firm’s customers c. Within a department d. A firm’s foreign units
Which of the following identities is FALSE?
A) Cash Flow to Creditors = Interest Expense - Net New Borrowing from Creditors B) Net New Borrowing = Ending Long-term Liabilities - Beginning Long-Term Liabilities C) Cash Flow to Owners = Dividends + Net New Borrowing from Owners D) Net New Borrowing from Owners = Change in Equity