Tabet Corporation uses the first-in, first-out method in its process costing system. Operating data for the Curing Department for the month of March appear below: According to the company's records, the conversion cost in beginning work in process inventory was $21,849 at the beginning of March. The cost per equivalent unit for conversion costs for March was $6.50. How much conversion cost would be assigned to the units completed and transferred out of the department during March?
A) $358,540
B) $380,389
C) $364,500
D) $379,990

Question

Tabet Corporation uses the first-in, first-out method in its process costing system. Operating data for the Curing Department for the month of March appear below:  According to the company's records, the conversion cost in beginning work in process inventory was $21,849 at the beginning of March. The cost per equivalent unit for conversion costs for March was $6.50. How much conversion cost would be assigned to the units completed and transferred out of the department during March?
A) $358,540 
B) $380,389 
C) $364,500 
D) $379,990

Quizplus · Accepted Answer

The Answer of Tabet Corporation uses the first-in, first-out method in its process costing system. Operating data for the Curing Department for the month of March appear below:  According to the company's records, the conversion cost in beginning work in process inventory was $21,849 at the beginning of March. The cost per equivalent unit for conversion costs for March was $6.50. How much conversion cost would be assigned to the units completed and transferred out of the department during March?
A) $358,540 
B) $380,389 
C) $364,500 
D) $379,990

Tabet Corporation Uses the First-In, First-Out Method in Its Process