Mannarelli Corporation uses the FIFO method in its process costing system. Opera

Question

Mannarelli Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:

Units.. % complete with respect to conversion
Beginning work in process inventory 15,000 20%
Transferred in from the prior department during September 89,000
Ending work in process inventory 24,000 90%
According to the company's records, the conversion cost in beginning work in process inventory was $15,660 at the beginning of September. Additional conversion costs of $526,524 were incurred in the department during the month.
The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)

Explanation / Answer

5.340 is correct. I got my quiz question wrong thanks to the two answers above. Also my quiz gives me the correct answers after so this is correct.

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