The following pertains to the Cereal Division of McKenzie Corporation. Conversion costs for this division were 80 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process inventory. Information about conversion costs for July is as follows:

The Cereal Division uses FIFO.

Required
a. What was the conversion cost of work-in-process inventory in the Cereal Division at July 31?
b. What were the conversion costs per equivalent unit produced last period and this period, respectively?
(CPAadapted)

Transcribed Image Text:

Conversion Costs Units Units started and costs incurred during July Units completed and transferred to next department during July. 400,000