Assume the following information:

Percent CompleteMilling DepartmentUnitsMaterialsConversionBeginning work in process inventory20040%30%Units started into production during March6,200Units completed during the period and transferred to

the next department5,800100%100%Ending work in process inventory60070%60%

Milling DepartmentMaterialsConversionCost of beginning work in process inventory$10,000$15,000Costs added during the period298,000385,000Total cost$308,000$400,000

Using the FIFO method, the cost per equivalent unit for materials is closest to:

Multiple Choice

• $51.23.
• $47.45.
• $50.16.
• $48.53.