Question: Overboard Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 8 0 % complete with respect

Overboard Corporation uses the FIFO method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow:
UnitsConversion CostBeginning work in process inventory22,400$37,000Units started into production, and costs incurred during the month158,000$233,000Units completed and transferred out138,000
The cost per equivalent unit for conversion cost is closest to:
Multiple Choice
$1.78
$1.43
$1.37
$1.90

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