FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Jarvene Corporation uses the FIFO method in its
Units in beginning inventory | 400 |
Units started into production | 4,290 |
Units in ending inventory | 290 |
Units transferred to the next department | 4,400 |
Materials | Conversion | |||
Percentage completion of beginning inventory | 70% | 30% | ||
Percentage completion of ending inventory | 80% | 30% | ||
The cost of beginning inventory according to the company’s costing system was $7,845 of which $4,862 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $178,777. The costs per equivalent unit for the month were:
Materials | Conversion | |
Cost per equivalent unit | $18.00 | $23.00 |
Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)
|
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