Question
Values Ltd implements FIFO method. Below is the information pertaining to the company's processing department of January: Work in process, January, 1 $21,156 (Materials) $20,213
Values Ltd implements FIFO method.
Below is the information pertaining to the company's processing department of January:
Work in process, January, 1 $21,156 (Materials) $20,213 (Conversion)
Cost added to production in the processing department during January $60,888 (Materials) $54,570 (Conversion)
Equivalent units of production for the month of January 6,450 (Materials) 6,317 (Conversion)
What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the processing department for January considering the above method?
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Principles Of Accounting And Principles Of Financial Accounting
Authors: Belverd E Needles, Marian Powers, Susan V Crosson
12th Edition
1133962459, 9781133962458
