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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Jensen Corporation
The following information is available for Jensen Corporation for the current month:
Started this month
80,000
Beginning WIP
(40% complete)
Normal Spoilage (discrete)
Abnormal spoilage
Ending WIP
(70% complete)
Transferred out
Beginning Work in Process Costs:
Material
Conversion
Current Costs:
Material
Conversion
7,500
a. $1.56
b. $1.63
c. $1.50
d. $1.37
1,100
900
13,000
72,500
$10,400
13,800
$120,000
350,000
units
units
units
units
units
units
All materials are added at the start of production and the inspection point is at the end of the process.
Refer to Jensen Corporation. What is cost per equivalent unit for material using FIFO?
Select one:
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