Qart Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below: According to the company's records, the conversion cost in beginning work in process inventory was $1,656 at the beginning of March. Additional conversion costs of $129,960 were incurred in the department during the month. The cost per equivalent unit for conversion costs for March is closest to:
A)$1.710
B)$1.677
C)$1.756
D)$1.840

Question

Qart Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below:  According to the company's records, the conversion cost in beginning work in process inventory was $1,656 at the beginning of March. Additional conversion costs of $129,960 were incurred in the department during the month. The cost per equivalent unit for conversion costs for March is closest to:
A)$1.710 
B)$1.677 
C)$1.756 
D)$1.840

Quizplus · Accepted Answer

The Answer of Qart Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below:  According to the company's records, the conversion cost in beginning work in process inventory was $1,656 at the beginning of March. Additional conversion costs of $129,960 were incurred in the department during the month. The cost per equivalent unit for conversion costs for March is closest to:
A)$1.710 
B)$1.677 
C)$1.756 
D)$1.840

Qart Corporation Uses the FIFO Method in Its Process Costing