MC MORTON COLLEGE Extra Credit Exercise Chapter 6 Cost Accounting 3 Points Total dent Name oron Refiners had 50,000 gallons started in its process in June. At June 30, 35,000 gallons were completed and transferred to finished goods and 10,000 gallons were still in process, one-fourth c pleted as to materials, labor and overhead. The remaining 5,000 units were lost to evaporation, a n mal result of the process. Costs of production during the month were $75,000, $50,000, and $25,000 for material, labor and overhead, respectively. What is the cost per equivalent unit in June? a. $4.00 b. $3.33 c. $3.53 d. $3.75 2. Regina Manufacturing uses the FIFO method of process costing. The produ the beginning of the period, for September was as follows n process, beginning of the period tage of completion 3,000 units 30 % ransferred to stockroom during period n process, end of the period tage of completion 12,000 units 40 % he number of equivalent units for conversion costs during the period was: a. 13,500 b. 16,500 c. 12,300 d. 14,700