Landry Co. had the following information for the month of December. All direct m

Question

Landry Co. had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $12,900. Work in Process Inventory Beginning balance @ 12/1 Completed 873 units and transferred then 216 units, 10% completed $15,800 to finished goods inventory $151,400 Direct materials $59,700 Direct labor $37,500 Overhead Property taxes $6,500 Depreciation $34,800 Utilities $20,500 Indirect labor $4,600 r` Ending balance @ 12/31 323 units, 20% completed $24,200 Cost per equivalent unit for conversion under the FIFO method is calculated to be (rounded):   Landry Co. had the following information for the month of December. All direct materials were one hundred percent complete, and beginning materials cost $12,900. Work in Process Inventory Beginning balance @ 12/1 Completed 873 units and transferred then 216 units, 10% completed $15,800 to finished goods inventory $151,400 Direct materials $59,700 Direct labor $37,500 Overhead Property taxes $6,500 Depreciation $34,800 Utilities $20,500 Indirect labor $4,600 r` Ending balance @ 12/31 323 units, 20% completed $24,200 Cost per equivalent unit for conversion under the FIFO method is calculated to be (rounded):  

Explanation / Answer

Solution-

$37,500 + $6,500 + $34,800 + $20,500 + $4,600 = $103,900

873 + (.2 x 323) - (.1 x 216) = 916

$103,900 / 916 = $113.43

Cost per equivalent unit for conversion under the FIFO method is $113.43

Related Questions

Navigate

• Browse (All)
• Browse L
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.