Question

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)


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  • CreatedDecember 18, 2013
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