Question
Hayek Corporation uses the FIFO method in its process costing. The following data concern the company's Mixing Department for the month of August. Materials Conversion
Hayek Corporation uses the FIFO method in its process costing. The following data concern the company's Mixing Department for the month of August.
Materials Conversion
Work in process, August 1 $31,734 $30,320
Cost added to production in the Mixing Department during August $91,332 $81,864
Equivalent units of production for August 7,740 7,580
Required:
What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using the FIFO method?
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A Survey Of Financial And Managerial Accounting
Authors: Roger H. Hermanson, Roland F. Salmonson, James D. Edwards
5th Edition
025606976X, 978-0256069761
