Question: Overboard Corporation uses the first-in, first-out method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to

Overboard Corporation uses the first-in, first-out 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:

Units Conversion Cost
Beginning work in process inventory 26,000 $ 49,000
Units started into production, and costs incurred during the month 170,000 $ 257,000
Units completed and transferred out 150,000

The cost per equivalent unit for conversion cost is closest to:

Multiple Choice

  • $1.83

  • $1.31

  • $1.25

  • $1.78

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