Question: 58. ABC firm uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for

58. ABC firm uses the FIFO method in its process costing

58. ABC firm uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month Units Data Percentage Complete Material 50% Conversion 90% Work in process, beginning: Units started into production during the month Units completed and transferred out Work in process, ending: Units 100 20,000 19,800 300 60% 20% Cost Data Material Costs in the beginning inventory: $260 Costs added to production during the month.... $99,650 Conversion $3,366 $745,329 Please calculate the cost per equivalent unit for materials for the month in the first processing department is closest to: (1 Point) $5.00 $4.5.00 $4.00

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