Given the following information, compute the unit conversion cost for the month of February for the Benjamin
Question:
Given the following information, compute the unit conversion cost for the month of February for the Benjamin Company, using the FIFO process-costing method. Show details of your calculations.
- Units completed, 45,000.
- Conversion cost in beginning inventory, $30,000
- Beginning inventory, 10,000 units with 75 percent of conversion costs.
- Ending inventory, 15,000 units with 30 percent of conversion costs.
- Conversion costs put into production in February, $222,600.
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Units completed 45000 Work done on ending inventory 030 x 15000 4500 Work done to date 49...View the full answer
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Related Book For 
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
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