Question
Carmelita Inc. has the following information available: Costs from Beginning Inventory Costs from Current Period Direct materials $4,000 $23,800 Conversion costs 6,700 143,200 At the
Carmelita Inc. has the following information available:
Costs from Beginning Inventory | Costs from Current Period | |
Direct materials | $4,000 | $23,800 |
Conversion costs | 6,700 | 143,200 |
At the beginning of the period, there were 400 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,100 units were started and completed. Ending inventory contained 300 units that were 28% 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 the nearest cent when calculating total costs.
The total costs transferred into Finished Goods for units started and completed were
a.$166,698
b.$113,355
c.$157,437
d.$213,373
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