Hopple Company uses a FIFO process costing system. Costs in beginning inventory include $9,600 for materials and $8,000 for conversion costs. The following costs were incurred in January for the Dyeing Department: Material is added at the beginning of the process and conversion costs are incurred evenly throughout the process. If equivalent units are 3,200 for materials and 2,800 for conversion, what is the total product cost per unit for a unit completed during January?

Question

Hopple Company uses a FIFO process costing system. Costs in beginning inventory include $9,600 for materials and $8,000 for conversion costs. The following costs were incurred in January for the Dyeing Department:  Material is added at the beginning of the process and conversion costs are incurred evenly throughout the process. If equivalent units are 3,200 for materials and 2,800 for conversion, what is the total product cost per unit for a unit completed during January?

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The Answer of Hopple Company uses a FIFO process costing system. Costs in beginning inventory include $9,600 for materials and $8,000 for conversion costs. The following costs were incurred in January for the Dyeing Department:  Material is added at the beginning of the process and conversion costs are incurred evenly throughout the process. If equivalent units are 3,200 for materials and 2,800 for conversion, what is the total product cost per unit for a unit completed during January?

Hopple Company Uses a FIFO Process Costing System