(Appendix 4A) The following information relates to the Cutting Department of Kittina Corporation for the month of February. Kittina uses a FIFO process costing system. All materials at Kittina are added at the beginning of the production process.
On February 1, the work in process inventory account contained $55,620 of material cost and $123,120 of conversion cost. Cost per equivalent unit for February was $3.10 for materials and $7.50 for conversion costs.
-What total amount of cost should be assigned to the units in work in process on February 28?
A) $29,680
B) $42,700
C) $44,520
D) $53,200

Question

(Appendix 4A) The following information relates to the Cutting Department of Kittina Corporation for the month of February. Kittina uses a FIFO process costing system. All materials at Kittina are added at the beginning of the production process.
  On February 1, the work in process inventory account contained $55,620 of material cost and $123,120 of conversion cost. Cost per equivalent unit for February was $3.10 for materials and $7.50 for conversion costs.
-What total amount of cost should be assigned to the units in work in process on February 28?
A) $29,680 
B) $42,700 
C) $44,520 
D) $53,200

Quizplus · Accepted Answer

Units started and completed = Units started into production during the period - Units in ending inventory
= 160,000 - 7,000 = 153,000
 11ea7761_18cd_92ec_81a5_b3ac7e2744c9_TB2580_00 11ea7761_18cd_92ed_81a5_2d5fe2401c73_TB2580_00

(Appendix 4A) the Following Information Relates to the Cutting Department