Question
Twinnings Corporation manufactures Scheduling Books. There are two processes: printing and binding. The following information is given for the printing department for September. Units: Units,
Twinnings Corporation manufactures Scheduling Books. There are two processes: printing and binding. The following information is given for the printing department for September.
| Units: | ||
| Units, beginning work in process | 40,000 | (20% complete for materials, 60% complete for conversion) |
| Started | 300,000 | |
| Completed | ? | |
| Units, ending work in process | 50,000 | (25% complete for materials, 80% complete for conversion) |
| Costs: | Materials | Conversion | Total |
| beginning work in process | $ 6,080 | $ 2,160 | $ 8,240 |
| current costs | $220,875 | $30,600 | $251,475 |
| total costs | $226,955 | $32,760 | $259,715 |
The company uses FIFO inventory assumption.
What are the FIFO cost per unit for materials?
| a. | $1.00 | |
| b. | $0.77 | |
| c. | $0.75 | |
| d. | $0.65 | |
| e. | none of the above |
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