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Use the following information to answer questions 57 & 58. Forrest Corporation, a new company, adds material at the beginning of its production process; conversion
Use the following information to answer questions 57 & 58. Forrest Corporation, a new company, adds material at the beginning of its production process; conversion cost, in contrast, is incurred evenly throughout manufacturing. During May, the firm completed 15,000 units and had ending work in process of 2,000 units, 60% complete. Equivalent-unit costs were: materials, $15; conversion, $22. The cost of Forrests completed production is:
$225,000. | ||
$330,000. | ||
$333,000. | ||
$555,000. | ||
None of the answers is correct. |
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