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SHOW YOUR WORK/STEPS PLEASE Excalibur Ltd. began operations on October 1 of the current year. Its production requires that direct materials are added at the
SHOW YOUR WORK/STEPS PLEASE
Excalibur Ltd. began operations on October 1 of the current year. Its production requires that direct materials are added at the beginning of the process and conversion costs are incurred uniformly. Direct materials costs for October were $380,000 and conversion costs were $1,750,000. There were 80,000 units started during the month. The ending inventory was 25,000 units which were 60% complete. The cost per equivalent unit for conversion was:
| a. | $116.67 |
| b. | $21.88 |
| c. | $25.00 |
| d. | $70.00 |
| e. | $16.67 |
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