Question
A department uses the FIFO method of process costing. All direct materials are added at the beginning of the process. This department has the following
A department uses the FIFO method of process costing. All direct materials are added at the beginning of the process. This department has the following data for this month.
-183 units in beginning WIP (56% complete with respect to conversion costs). -11,997 units started -219 units in ending WIP (48% complete with respect to conversion costs). -$17 direct material cost per equivalent unit -$14 conversion cost per equivalent unit -$2 direct material cost in beginning WIP -$1 conversion cost in beginning WIP
What is the department's total cost of units completed and transferred out? (round your answer to nearest cent)
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