Item $37$

Assume the following information:

Milling Department Units Percent Complete

Materials Conversion

Beginning work in process inventory $20040\%30\%$

Units started into production during March $6,200$

Units completed during the period and transferred to the next department $5,800100\%100\%$

Ending work in process inventory $60070\%60\%$

Milling Department Materials Conversion

Cost of beginning work in process inventory $ $10,000$ $ $15,000$

Costs added during the period $290,000385,000$

Total cost $ $300,000$ $ $400,000$

Using the FIFO method, the cost per equivalent unit for materials is closest to:

Multiple Choice

$$48\mathrm{.}86.$

$$46\mathrm{.}15.$

$$49\mathrm{.}93.$

$$47\mathrm{.}23.$