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
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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.
- 147 units in beginning WIP (74% complete with respect to conversion costs).
- 10,415 units started
- 239 units in ending WIP (61% complete with respect to conversion costs).
- $13 direct material cost per equivalent unit
- $11 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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Margins Of Error In Accounting
Authors: D. Myddelton
1st Edition
0230219918, 9780230219915
