chapter 16 question # 6 Richardson FIFO

6 Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department: Skipped Units: Beginning Inventory: 80,000 units, 60% complete as to materials and 20% complete as to conversion. Units started and completed: 250,000. Units completed and transferred out: 330,000. Ending Inventory: 30,000 units, 40% complete as to materials and 10% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the cost per equivalent unit of materials. Multiple Choice $2.59 $2.33 O O $1.89 $2.20 O $2.00