Qatar Manufacturing Company QMC uses the First-In, First-Out (FIFO) method in its process costing system to...

  

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Qatar Manufacturing Company QMC uses the First-In, First-Out (FIFO) method in its process costing system to produce leather wallets. Direct materials are added at the end of the process. Conversion costs are incurred equally. The following information relates to the operations of each wallets for Feb 2021: Beginning work in process Degree of completion of beginning work in progress Units started Completed during the month and transferred out Ending work in process Degree of completion of ending work in progress Total costs added during Feb 2021 2,000 18,000 ??? 4,000 $15,000 100% 100% $36,000 $25,000 ?? ?? $64,000 $10,000 60% 50% $33,600 Required: QMC manager has asked you to find the cost per equivalent unit in this process Qatar Manufacturing Company QMC uses the First-In, First-Out (FIFO) method in its process costing system to produce leather wallets. Direct materials are added at the end of the process. Conversion costs are incurred equally. The following information relates to the operations of each wallets for Feb 2021: Beginning work in process Degree of completion of beginning work in progress Units started Completed during the month and transferred out Ending work in process Degree of completion of ending work in progress Total costs added during Feb 2021 2,000 18,000 ??? 4,000 $15,000 100% 100% $36,000 $25,000 ?? ?? $64,000 $10,000 60% 50% $33,600 Required: QMC manager has asked you to find the cost per equivalent unit in this process