Nader, I Costs from Costs trom Beginning Curent Period Direct materials Conversi

Question

Nader, I Costs from Costs trom Beginning Curent Period Direct materials Conversion costs Inventory $2,300 s 21,252 At the beginning of the period, there were 500 units in process that were 40 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the current period, 4,300 units were started and completed. Ending inventory contained 320 units that were 80 percent complete as to conversion costs and 100 percent complete as to direct materials costs Assume that the company uses the FIFO costing method.) Reference: Reference 2 The cost of completing a unit during the current period was A) $35.79. B) $39.50. C) $35.21 D) $35.60. Points Earned: 0.0/ soo 100 2.6 04300 Correct Answer(s): 320 43 5 moter idinnventor. 21,252 140-63 8.

Explanation / Answer

7)

Equivalent Units :-

Cost per Unit :-

Cost per unit = Materials + Conversion

= $4.6 + $31

= $35.60

8) Total Cost of Transfered into the finished goods inventory :-

Total Cost = $22080 + $148800 = $170880

Particulars Whole Units Materials(%) Materials(Units) Conversion(%) Conversion(Units) Beginning Inventory 500 - - 60 300 Intraduced and Transferred 4300 100 4300 100 4300 Ending Inventory 320 100 320 80 256 Equivalent Units 4620 4856

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