(Appendix 4A) Qu Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for conversion costs for the first department for the month is closest to:
A) $29.89
B) $34.07
C) $31.07
D) $31.38

Question

(Appendix 4A) Qu Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
  Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for conversion costs for the first department for the month is closest to:
A) $29.89 
B) $34.07 
C) $31.07 
D) $31.38

Quizplus · Accepted Answer

FIFO method
Units started and completed during the period = Units started into production during the period - Units in ending work in process inventory = 8,400 - 2,200 = 6,200
 11ea7761_18c2_e44e_81a5_ab0f0251b4c3_TB2580_00 11ea7761_18c3_0b5f_81a5_858ca149540d_TB2580_00

(Appendix 4A) Qu Corporation Uses the FIFO Method in Its