Thames Company uses the FIFO method in its process costing system. The following information was obtained from the accounting records of the Finishing Department during November:
Conversion Costs


Work in process, 11/1

50,000

conversion cost: 20%

Transferred-in during November

150,000

Work in process, 11/30

30,000

conversion cost: 60%

November Costs:

Beginning Inventory

transferred in: $100,000

Materials: $75,000

Conversion: $15,000

Costs added in November

transferred in: $300,000

Materials: $337,500

Conversion: $560,700


All materials are added at the beginning of the manufacturing process. The equivalent units for conversion for November are:
188,000
178,000
150,000
162,000

Answer rating: 100% (QA)

Whole units Transferred units Materials Conversion costs Units to ac... View the full answer