Use the following information for the next 5 questions.
(CMA) The accountant for Whirly Manufacturing Inc. gathered the following information for the month of November.
-Using the FIFO method, the equivalent unit conversion cost for November is
A) $5.65
B) $5.83
C) $6.00
D) $6.20

Question

Use the following information for the next 5 questions.
(CMA) The accountant for Whirly Manufacturing Inc. gathered the following information for the month of November. 
-Using the FIFO method, the equivalent unit conversion cost for November is
A) $5.65 
B) $5.83 
C) $6.00 
D) $6.20

Quizplus · Accepted Answer

The FIFO method calculates equivalent units based on the work done during the current period. The conversion cost per equivalent unit is determined by dividing the total conversion costs for the period by the equivalent units of production.

Use the Following Information for the Next 5 Questions