Question
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,400 $23,800 Conversion costs 5,900 150,000 At the
Carmelita Inc., has the following information available:
Costs from Beginning Inventory | Costs from Current Period | |
Direct materials | $4,400 | $23,800 |
Conversion costs | 5,900 | 150,000 |
At the beginning of the period, there were 400 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,300 units were started and completed. Ending inventory contained 400 units that were 25% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs.
The total costs that will be transferred into Finished Goods for units started and completed were
a.$122,311
b.$163,081
c.$219,236
d.$175,389
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started