Question: Assume Towery Company uses a process costing system based on the FIFO method. Towerys accountant produces the following equivalent unit calculations for the month of

Assume Towery Company uses a process costing system based on the FIFO method. Towerys accountant produces the following equivalent unit calculations for the month of July for the first department: Also assume that the beginning inventory had accumulated $2,850 of materials and $7,930 of conversion costs in the previous month. During the month of July, current costs included $51,100 of materials and $79,310 of conversion costs. Calculate the average cost per equivalent unit for conversion costs for the month of July. Select one: a. $0.05 b. $1.54 c. $15.40 d. $19.48 e. $20.45

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