3. Rick Company applies the FIFO method of process costing.The Molding Department reported the following information for March. PhysicalUnits Percent complete with respect to materials Percent complete with respect to conversion Work in process, March 1 12,000 80% 70% Units started 20,000 Units completed and transferred out 28,000 Work in process, March 31 4,000 40% 30% Costs for March Materials Conversion Work in process, March 1 $70,000 $100,000 Added during the month $150,000 $174,720 Compute the cost per equivalent unit for materials, cost per equivalent unit for conversion, and cost of units started and completed.

Answer rating: 100% (QA)

Equivalent Units for Materials For beginning work in process we have 12000 units that were 80 complete concerning materials so thats 12000 080 9600 eq... View the full answer