Question: Ending WIP 40% complete materials / 50% complete for conversion is 10,000 units Cost of materials in WIP is $8,000 Cost of Conversion in WIP

Ending WIP

40% complete materials / 50% complete for conversion is 10,000 units

Cost of materials in WIP is $8,000

Cost of Conversion in WIP is $10,000

Units Started in month was 120,000

Conversion costs added during month $250,000

Material costs added during month was $210,000

Beginning WIP

70% complete materials / 60% complete for conversion is 5,000 units

Cost of materials in WIP is $4,000

Cost of Conversion in WIP is $5,500

Compute the cost per unit in good report format for the month, using FIFO method.

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