The following information is for production activities in the refining department of Petro Pure Corporation. All units in work in process (WIP) were costed using the FIFO cost system.

Instructions
(a) Calculate the conversion costs per equivalent unit of production during the last period and this period.
(b) Calculate the conversion cost in the work in process inventory account at February 28.
(c) Calculate the per-unit conversion cost of the units started last period and completed this period.

Transcribed Image Text:

Refining Department WIP, February 1 Units started and costs Units 25,000 135,000 Percentage of Completion 70% Conversion Costs 22,000 143,000 incurred during February Units completed and transferred to the mixing department 100,000 WIP, February 28 60%