1. Jensen Corporation The following information is available for Jensen Corporation for the current month:

Started this month	80,000	units
Beginning WIP
(40% complete)	7,500	units
Normal Spoilage (discrete)	1,100	units
Abnormal spoilage	900	units
Ending WIP
(70% complete)	13,000	units
Transferred out	72,500	units
Beginning Work in Process Costs:
Material	$10,400
Conversion	13,800
Current Costs:
Material	$120,000
Conversion	350,000

All materials are added at the start of production and the inspection point is at the end of the process.

Refer to Jensen Corporation. What is the cost assigned to ending inventory using FIFO?

a. $56,420

b. $58,994

c. $53,144

d. $75,920

2. The following information is available for Keyser Corporation for the current year:

Beginning Work in Process		Cost of Beginning Work in Process:
(75% complete)	14,500 units	Material	$25,100
Started	75,000 units	Conversion	50,000
Ending Work in Process		Current Costs:
(60% complete)	16,000 units	Material	$120,000
Abnormal spoilage	2,500 units	Conversion	300,000
Normal spoilage (continuous)	5,000 units
Transferred out	66,000 units

All materials are added at the start of production.

Refer to Keyser Corporation. Using FIFO, what is the cost per equivalent unit for material?

a. $1.60

b. $1.66

c. $1.42

d. $1.71