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Big Air Boards produces skateboards and accounts for production costs using the first in , first out ( FIFO ) method of process costing. All
Big Air Boards produces skateboards and accounts for production costs using the first in first out FIFO method of process costing. All direct materials are assumed to be added at the beginning of the period, while conversion costs are added uniformly throughout production. Big Air Boards had units in beginning workinprocess on December In addition, Big Air Boards completed units during December and had units in ending workinprocess at the end of the month.
Management estimates that beginning workinprocess inventory was percent complete for direct materials and percent complete for conversion costs. Ending workinprocess inventory was estimated to be percent complete for direct materials and percent complete for conversion costs.
Costs incurred during November for December's beginning workinprocess BWIP units totaled $ for direct materials and $ for conversion costs. During December, production costs included $ in direct materials and $ for conversion costs.
Required:
tableQuestiona What is the average production cost of a unit produced entirely during December? Note: Do not,round your intermediate calculations. Round your final answer to decimals.,tableb What is the average production cost of a unit started in November and completed in December?Note: Do not round your intermediate calculations. Round your final answer to decimals.
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