Question

Carmelita Inc., has the following information available : Costs from Beginning Inventory Costs from current Period...

Carmelita Inc., has the following information available

: Costs from Beginning Inventory Costs from current Period Direct materials $4,700 $23,800 Conversion costs 5,100 140,400

At the beginning of the period, there were 500 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,100 units were started and completed. Ending inventory contained 300 units that were 26% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The cost of completing a unit during the current period was

$45.16

$30.11

$36.13

$25.70

Homework Answers

Answer #1
UNITS TO ACCOUNT FOR: Whole units
Beginning WIP 500
Units introduced during the period 5400
Total units to account for 5900
UNITS ACCOUNTED FOR: Equivalent Units
Material Conversion Cost
Beginning WIP completed during the period 500 0 285
Units introduced and completed 5100 5100 5100
Total units completed and transferred out 5600 5100 5385
Ending WIP 300 300 78
Total units accounted for 5900 5400 5463
Material Cost Conversion Cost Total Cost
Costs added during the period 23800 140400 164200
Cost per equivalent unit 4.41 25.70 30.11
Answer: $30.11
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