Cost Accounting - Cost per equivalent unit
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37. Maenhout Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:
Percentage
Units Complete
Beginning Work in Process Inventory 21,000 60%
Transferred in from the prior department during September 64,000
Ending Work in Process Inventory 22,000 70%
According to the company's records, the conversion cost in beginning work in process inventory was $31,500 at the beginning of September. Additional conversion costs of $172,396 were incurred in the department during the month.
What was the cost per equivalent unit for conversion costs for September on the Casting Department's production report? (Round off to three decimal places.)
A) $2.399
B) $2.694
C) $2.500
D) $2.620
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The solution explains how to calculate the cost per equivalent unit.
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Beginning Work in Process 21,000
Started into Production 64,000
Total Units in Production 85,000
...
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