Question
Landry Co. had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $16,700.
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Landry Co. had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $16,700.
Work in Process Inventory | |||||||
Beginning balance @ 12/1: 300 units, 10% completed | $ | 20,000 |
| Completed 990 units and transferred them to finished goods inventory | $ | 182,781 |
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Direct materials |
| 68,000 |
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Direct labor |
| 44,000 |
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Overhead Property taxes |
| 10,000 |
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|
|
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Depreciation |
| 41,000 |
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Utilities |
| 25,000 |
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Indirect labor |
| 8,000 |
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Ending balance @ 12/31: 375 units, 20% completed | $ | 33,219 |
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Cost per equivalent unit for materials under the FIFO method is calculated to be (rounded):
Top of Form
Multiple Choice
- $77.441.
- $62.037.
- $123.671.
- $63.850.
- $72.736.
Bottom of Form
Bottom of Form
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