Question: I am looking for help with this general accounting question using proper accounting standards. A furniture manufacturer provides the following production and cost information: WIP

I am looking for help with this general accounting question using proper accounting standards.

A furniture manufacturer provides the following production and cost information: WIP Inventory, January 1: 4,000 units Units started during the month: 25,000 units Units completed and transferred out: 22,000 units WIP Inventory, December 31: 7,000 units Direct materials cost: $294,000 Direct labor cost: $375,000 Manufacturing overhead: $225,000 The units in ending WIP inventory were 80% complete for materials and 40% complete for conversion costs. On December 31, the cost per equivalent unit for materials would be closest to: A. $10.65 B. $12.25 C. $13.36 D. $14.00

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