(CMA) The accountant for Whirly Manufacturing Inc. gathered the following information for the month of November: Beginning WIP 16,000 units
Started production 100,000
Completed production 92,000
Ending WIP 24,000
The beginning inventory was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs.
Costs pertaining to the month of November are as follows:
Beginning inventory costs are:
Materials $54,560
Direct labour 20,320
Factory overhead 15,240
Costs incurred during November include:
Materials $468,000
Direct labour 182,880
Factory overhead 391,160
Using the FIFO method, the equivalent unit cost of materials for November is:
A) $4.12
B) $4.50
C) $4.60
D) $4.80
Correct Answer:
Verified
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