Lala Company uses the FIFO method of process costing. The company's cost accountant has determined the following
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Question:
Lala Company uses the FIFO method of process costing. The company's cost accountant has determined the following production and cost per equivalent unit of production for February 2021.
In process, beginning (100% DM, 70% DL, 60% OH) 12,500 units
Transferred out 320,000 units
In process, end (100% DM, 80% DL, 90% OH) 46,250 units
Current period Prior period
Transferred in cost per EUP4.003.85
Direct material cost per EUP 3.75 3.00
Direct labor cost per EUP4.96 4.50
Overhead cost per EUP 5.10 4.95
The total costs charged to this department during the period is
Answer: 6,274,920
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Managerial Accounting A Focus on Ethical Decision Making
ISBN: 978-0324663853
5th edition
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
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