Question
The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): Units Material
The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process):
| Units | Material Costs | |||
| Beginning work in process | 100,000 | $ | 33,000 | |
| Started in May | 250,000 | 106,600 | ||
| Units completed | 270,000 | |||
| Ending work in process | 80,000 | |||
Required:
Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.)
Total Costs to be accounted for:
Cost per Equivalent Unit:
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Financial and Managerial Accounting Information for Decisions
Authors: John Wild, Ken Shaw, Barbara Chiappetta
5th edition
978-1259317552, 1259317552, 978-0078025600, 78025605, 978-1259335013, 1259335011, 978-1259347641
