20.

Mullins Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Beginning work in process inventory:
Units in beginning work in process inventory		700
Materials costs	$	11,500
Conversion costs	$	22,200
Percent complete with respect to materials		75	%
Percent complete with respect to conversion		65	%
Units started into production during the month		8,600
Units transferred to the next department during the month		7,800
Materials costs added during the month	$	159,300
Conversion costs added during the month	$	348,500
Ending work in process inventory:
Units in ending work in process inventory		1,500
Percent complete with respect to materials		65	%
Percent complete with respect to conversion		50	%

The cost per equivalent unit for conversion costs for the first department for the month is closest to:

Garrison 16e Rechecks 2017-07-05

Multiple Choice

• $48.79

• $45.20

• $44.68

• $43.05

• 21.

  Tabet Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below:

  	Units	Percent Complete with Respect to Conversion
  Beginning work in process inventory	5,700	70	%
  Transferred in from the prior department during March	57,000
  Completed and transferred to the next department during March	58,700
  Ending work in process inventory	4,000	90	%

  According to the companys records, the conversion cost in beginning work in process inventory was $20,349 at the beginning of March. The cost per equivalent unit for conversion costs for March was $5.00. How much conversion cost would be assigned to the units completed and transferred out of the department during March?

  Multiple Choice

• $273,550

• $293,899

• $285,000

• $293,500