Use the following information for Multiple Choice Questions below:
Assume Eames Company uses a process costing system based on the FIFO method. Eames' accountant produces the following equivalent unit calculations for the month of November:
Also assume that the beginning inventory had accumulated $15,500 of materials and $9,600 of conversion costs in the previous month. During the month of November, current costs included $157,500 of materials and $193,500 of conversion costs.
-Calculate the average cost per equivalent unit for conversion costs for the month of November.
A) $0.10
B) $0.50
C) $9.21
D) $10.00
E) $10.49
Correct Answer:
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