Use the following information to answer questions 57 & 58. Forrest Corporation,

Question

Use the following information to answer questions 57 & 58.
Forrest Corporation, a new company, adds material at the beginning of its production process; conversion cost, in contrast, is incurred evenly throughout manufacturing. During May, the firm completed 15,000 units and had ending work in process of 2,000 units, 60% complete. Equivalent-unit costs were: materials, $15; conversion, $22.
The cost of Forrest’s completed production is:

$225,000.

$330,000.

$333,000.

$555,000.

None of the answers is correct.

$225,000.

$330,000.

$333,000.

$555,000.

None of the answers is correct.

Explanation / Answer

The cost of Forrest’s completed production = 15000*(15+22)= $555000 Option 4 is correct

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