Question

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

Carmelita Inc., has the following information available:

 Costs from Beginning Inventory Costs from current Period Direct materials \$5,800 \$25,300 Conversion costs 6,300 158,600

At the beginning of the period, there were 400 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,500 units were started and completed. Ending inventory contained 400 units that were 32% 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

a.\$37.58

b.\$31.32

c.\$27.03

d.\$46.97

 The correct option is (b) i.e. \$31.32 which is calculated as below:- Cost of completing a unit during the current period = (Cost of direct material / Equivalent unit of materials) + (Cost of conversion / Equivalent unit of conversion) (25,300/5,900) + (158,600/5,868) = 4.29 + 27.03 = 31.32 Equivalent unit of materials = (400*0%)+(5,500*100%)+(400*100%) = 5,900 Equivalent unit of conversion = (400*60%)+(5,500*100%)+(400*32%) = 5,868

#### Earn Coins

Coins can be redeemed for fabulous gifts.

##### Need Online Homework Help?

Most questions answered within 1 hours.

##### Active Questions
• NEED PART B ONLY A)Determine the conductivity K in gallons/day/ft^2 of a fully penetrating well in...
• Using the following year-end information for Calvinâ€™s Clothing, calculate the current ratio and acid-test ratio for...
• In a full-wave rectifier with two diodes, calculate a) The value of V0, I0 b) Vr...
• Prior to beginning treatment or treatment-relevant assessments or randomized clinical trials in which health care is...
• A company manufactures printers and fax machines at plants located in Atlanta, Dallas, and Seattle. To...
• Which of the following is the BEST method to determine classification of data? a. Assessment of...