Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Carmelita Inc., has the following information available: Costs from Beginning Inventory Costs from current Period Direct materials $5,800 $25,300 Conversion costs 6,300 158,600 At the
Carmelita Inc., has the following information available:
Costs from Beginning Inventory | Costs from current Period | |
Direct materials | $5,800 | $25,300 |
Conversion costs | 6,300 | 158,600 |
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, 5,500 units were started and completed. Ending inventory contained 400 units that were 32% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method.
The cost of completing a unit during the current period was
a.$37.58
b.$31.32
c.$27.03
d.$46.97
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