Question: 1. What is the cost per equivalent unit for conversion cost using FIFO? (LEZDODIS CORP) Land Company produces joint products Jana and Reta, together with

1. What is the cost per equivalent unit for conversion cost using FIFO? (LEZDODIS CORP)

Jana is sold at split-off, but Reta and Bynd undergo additional processing.

Land Company produces joint products Jana and Reta, together with by-product Bynd. Jana is sold at split-off, but Reta and Bynd undergo additional processing. Production data pertaining to these proacts follow: Joint costs: Variable Fixed Separable costs: Jana Reta Bynd Total P88,000 148,000 P120,000 P3,000 123,000 90,000 1,000 92,000 1,000 40,000 10,000 100,000 P 7.50 P 1.10 No Variable Fixed Profit Production (lbs.) 50,000 Sales price/lbs. P 4.00 There is no beginning or ending inventories. materials are spoiled in production.

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