Gaba Corporation uses the FIFO method in its process costing system. The Grinding Department started the month with 17,000 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 60,000 units were transferred in from the prior department during the month to begin processing in the Grinding Department. During the month 70,000 units were completed in the Grinding Department and transferred to the next processing department. There were 7,000 units in the ending work in process inventory of the Grinding Department that were 10% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Grinding Department for the month?
A. 70,000
B. 60,500
C. 50,000
D. 70,700
Answer: B
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Que Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below: UnitsPercent Complete with Respect to ConversionBeginning work in process inventory9,70010%Transferred in from the prior department during March49,000 Completed and transferred to the next department during March57,700 Ending work in process inventory1,00030% According to the company's records, the conversion cost in beginning work in process inventory was $3,705 at the beginning of March. Additional conversion costs of $210,213 were incurred in the department during the month.The cost per equivalent unit for conversion costs for March is closest to:
A. $1.840 B. $1.756 C. $3.686 D. $1.677