Overhill Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: The cost per equivalent unit for conversion cost is closest to:
A)$1.48
B)$1.50
C)$1.16
D)$1.82

Question

Overhill Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow:  The cost per equivalent unit for conversion cost is closest to:
A)$1.48 
B)$1.50 
C)$1.16 
D)$1.82

Quizplus · Accepted Answer

The Answer of Overhill Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow:  The cost per equivalent unit for conversion cost is closest to:
A)$1.48 
B)$1.50 
C)$1.16 
D)$1.82

Overhill Corporation Uses the FIFO Method in Its Process Costing