Ozdemir 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 200 Materials costs$1,800 Conversion costs$600 Percent complete with respect to materials 55%Percent complete with respect to conversion 10%Units started into production during the month 5,000 Units transferred to the next department during the month 4,500 Materials costs added during the month$74,800 Conversion costs added during the month$128,800 Ending work in process inventory: Units in ending work in process inventory 700 Percent complete with respect to materials 85%Percent complete with respect to
conversion 70% The cost per equivalent unit for materials for the month in the first processing department is closest to:
A. $16.62
B. $16.36
C. $15.01
D. $14.38
Answer: C
You might also like to view...
Which one of the following statements is false concerning the retail inventory method?
A) In arriving at a cost-to-retail ratio, sales discounts are deducted from goods available for sale to determine ending inventory at retail. B) Employee discounts are subtracted from goods available for sale to compute ending inventory at retail. C) Abnormal inventory spoilage would be subtracted at both cost and retail in the determination of goods available for sale. D) Purchase returns and allowances must be subtracted from both the cost and retail value of the purchases.
Examining relationships among data in the company's financial statements can provide knowledge that can not be gained from just looking at individual items in the statements
Indicate whether the statement is true or false
The ________ overhead rate method uses a single rate for allocating overhead costs to products.
Fill in the blank(s) with the appropriate word(s).
Activities on the critical path are referred to as?
a. Essential activities b. Important activities c. Significant activities d. Critical activities