(Appendix 4A) Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for conversion costs for the first department for the month is closest to:
A) $45.66
B) $52.86
C) $47.94
D) $48.14

Question

(Appendix 4A) Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
  Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for conversion costs for the first department for the month is closest to:
A) $45.66 
B) $52.86 
C) $47.94 
D) $48.14

Quizplus · Accepted Answer

FIFO method
Units started and completed during the period = Units completed during the period - Units in beginning work in process inventory = 5,600 - 700 = 4,900
 11ea7761_18c8_feee_81a5_058ab3e8ce6b_TB2580_00 11ea7761_18c8_feef_81a5_bf92de69e9a0_TB2580_00

(Appendix 4A) Normand Corporation Uses the FIFO Method in Its