All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is a. $2.24
b.$3.03
c.$3.84
d.$2.58

Question

09-12-2022
Business

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All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is a. $2.24
b.$3.03
c.$3.84
d.$2.58

Answer :

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smecloudbird17 smecloudbird17 · Answer 1 · 2022-12-16T10:34:38-05:00

The ending work in process inventory is $91,960. The first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is $2.58.

The correct option is d.

By reversing method example,

The computation of the ending work in process inventory is given below:

= cost of material + conversion cost

= 22,000 × $1.60 + 22,000 × $2.58

= $35,200 + $56,760

= $91,960

Hence, the ending work in process inventory is $91,960

The same should be considered and relevant.

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All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is a. $2.24 b.$3.03 c.$3.84 d.$2.58

Answer :

Other Questions

All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is a. $2.24
b.$3.03
c.$3.84
d.$2.58