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Tabet Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below: Units
Tabet Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below:
Units | Percent Complete with Respect to Conversion | ||
Beginning work in process inventory | 7,600 | 70 | % |
Transferred in from the prior department during March | 58,900 | ||
Completed and transferred to the next department during March | 60,600 | ||
Ending work in process inventory | 5,900 | 90 | % |
According to the companys records, the conversion cost in beginning work in process inventory was $22,249 at the beginning of March. The cost per equivalent unit for conversion costs for March was $6.90. How much conversion cost would be assigned to the units completed and transferred out of the department during March?
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