1. The following information is given for True Company's Milling Department:

   	units	% complete for Materials	% complete For Conversion	Cost for Materials	Cost for Conversion
   Beginning WIP	200	30%	30%	$4,800	$6,600
   Units started	500
   Units completed	600
   Ending WIP	100	70%	50%
   Costs incurred during current period				$12,200	$17,700

   WIP = work-in-process

   * Cost per equivalent unit for Materials = $20

   * Cost per equivalent unit for Conversion = $30

   The company uses the FIFO method. The cost of the units competed is:

   	A.	$27,000
   	B.	$38,400
   	C.	$30,000
   	D.	$31,400

1 points

QUESTION 26

1. (26) Use the information given in the above question. The company uses the FIFO method. The cost of ending work-in-process is:

   	A.	$2,900
   	B.	$3,500
   	C.	$2,760
   	D.	$2,500