Business, 10.03.2020 23:00, nisha87

Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first processing department for a recent month:

Work in process, beginning: Units in process?

Percent complete with respect to materials75%

Percent complete with respect to conversion50%

Costs in the beginning inventory:

Materials cost$ 2,300
Conversion cost$ 3,600
Units started into production during the month25,200
Units completed and transferred out during the month24,000

Costs added to production during the month:

Materials cost$ 98,750
Conversion cost$220,500

Work in process, ending:

Units in process2,000
Percent complete with respect to materials80%
Percent complete with respect to conversion45%

What was the cost per equivalent unit for materials during the month?

A. $2.00
B. $3.95
C. $5.00
D. $4.50

Answers: 2

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Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain t...