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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
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.
205 units in beginning WIP (72% complete with respect to conversion costs).
9,920 units started
176 units in ending WIP (57% complete with respect to conversion costs).
$16 direct material cost per equivalent unit
$18 conversion cost per equivalent unit
What is the department's direct material cost in ending WIP for this month (round final answer to nearest cent if necessary)?
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