Information about units processed and processing costs incurred during a recent month in the Refining Department of a manufacturing company follow: The beginning work in process inventory included $11,000 of conversion cost.During the month,the Department incurred an additional $290,000 in conversion costs. Assuming that the company uses the FIFO method,what is the cost per equivalent unit for conversion costs for the month in the Blending Department to the nearest cent?
A)$2.52
B)$2.55
C)$2.44
D)$2.59

Question

Information about units processed and processing costs incurred during a recent month in the Refining Department of a manufacturing company follow:  The beginning work in process inventory included $11,000 of conversion cost.During the month,the Department incurred an additional $290,000 in conversion costs. Assuming that the company uses the FIFO method,what is the cost per equivalent unit for conversion costs for the month in the Blending Department to the nearest cent?
A)$2.52 
B)$2.55 
C)$2.44 
D)$2.59

Quizplus · Accepted Answer

FIFO method equivalent units of production
 11eaa3fe_30d6_b71d_908b_efc3e3837846_TB2461_00 FIFO method cost per equivalent unit
 11eaa3fe_30d6_de2e_908b_71389830fc61_TB2461_00

Information About Units Processed and Processing Costs Incurred During a Recent