Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO
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Question:
Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO process costing system. The following information on the physical flow of units is available for the month of November:
Beginning work in process (70% complete) | 90,000 | |
Started in November | 1,020,000 | |
Completed in November and transferred out | 960,000 | |
Ending work in process (40% complete) | 150,000 | |
Cost data for November show the following:
Beginning WIP inventory | |||
Direct materials costs | $ | 35,670 | |
Conversion costs | 110,630 | ||
Current period costs | |||
Direct materials costs | $ | 408,330 | |
Conversion costs | 1,521,370 | ||
Required:
a. Compute the cost equivalent units for the conversion cost calculation assuming Campo uses the weighted-average method.
equivalent units :
b. Compute the cost per equivalent unit for materials and conversion costs for November. (Round your answers to 2 decimal places.)
materials costs :
conversion costs:
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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