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(Appendix 6A) Marten Company uses the FIFO method in its process costing system. Operating data for...

(Appendix 6A) Marten Company uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:

Units Percentage complete
Beginning work in process inventory 19,000 80%
Transferred in from the prior department during September 74,000
Ending work in process inventory 17,000 90%



According to the company's records, the conversion cost in beginning work-in-process inventory was $83,600 at the beginning of September. Additional conversion costs of $427,682 were incurred in the department during the month.
What would be the cost per equivalent unit for conversion costs for September on the Casting Department's production report? (Round off to three decimal places.)

$5.498.

$5.779.

$5.620.

$5.500.

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Answer #1
Marten Company
FIFO Method:
Equivalent Units
DM Conversion costs
Whole units % Units % Units
Opening WIP 19000
Tfd. IN 74000
Total Units to account for 93000
Opening WIP 19000 20 3800
Completed and tfd. 57000 100 57000
Closing WIP 17000 90 15300
Total Units to account for ( EUP) 93000 76100
Cost Information
Costs to account for: Materials Conversion Total
Op. WIP 0 83600
Added during the period 427682
Total costs to account for 0 511282
Cost per EUP :-
Cost to be accounted for 0 427682
EUP 76100
Cost per EUP 5.62
Option C is correct.
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