Marten Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below: According to the company's records, the conversion cost in beginning work in process inventory was $83,600 at the beginning of September. Additional conversion costs of $427,682 were incurred in the department during the month. The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)
A)$5.498
B)$5.779
C)$5.620
D)$5.500

Question

Marten Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:  According to the company's records, the conversion cost in beginning work in process inventory was $83,600 at the beginning of September. Additional conversion costs of $427,682 were incurred in the department during the month. The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)
A)$5.498 
B)$5.779 
C)$5.620 
D)$5.500

Quizplus · Accepted Answer

The Answer of Marten Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:  According to the company's records, the conversion cost in beginning work in process inventory was $83,600 at the beginning of September. Additional conversion costs of $427,682 were incurred in the department during the month. The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)
A)$5.498 
B)$5.779 
C)$5.620 
D)$5.500

Marten Corporation Uses the FIFO Method in Its Process Costing