The following information pertains to the Davenport plant for the month of May (

Question

The following information pertains to the Davenport plant for the month of May (all materials are added at the beginning of the process):

                                           Units                Material Costs

Beginning work in process 70,000               $ 35,000

Started in May                  240,000                100,800

Units completed               255,000

Ending work in process      55,000

Required: Compute the cost per equivalent unit for materials using the FIFO method. (Round your answer to 2 decimal places.)

Explanation / Answer

Cost per equivlent Unit = Total cost/Total equivlent units = (35000+100800)/(255000+55000) = $ 0.44 Thus, cost per equivlent unit is $0.44. Units in respect of materials are completed for 100%

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