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.
- 132 units in beginning WIP (69% complete with respect to conversion costs).
- 11,920 units started
- 136 units in ending WIP (73% complete with respect to conversion costs).
- $13 direct material cost per equivalent unit
- $23 conversion cost per equivalent unit
What is the department's total cost of ending WIP for this month (round final answer to nearest cent if necessary)?
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1st Edition
1659112699, 978-1659112696
