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Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
Edition 2ISBN: 978-0077274993Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
Edition 2ISBN: 978-0077274993 Exercise 19
FIFO Method
The following pertains to the Cereal Division of McKenzie Corporation. Conversion costs for this division were 80 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process inventory. Information about conversion costs for July is as follows:
The Cereal Division uses FIFO.
Required
a. What was the conversion cost of work-in-process inventory in the Cereal Division at July 31
b. What were the conversion costs per equivalent unit produced last period and this period, respectively
( CPA adapted )
The following pertains to the Cereal Division of McKenzie Corporation. Conversion costs for this division were 80 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process inventory. Information about conversion costs for July is as follows:
The Cereal Division uses FIFO.
Required
a. What was the conversion cost of work-in-process inventory in the Cereal Division at July 31
b. What were the conversion costs per equivalent unit produced last period and this period, respectively
( CPA adapted )
Explanation
Verified
Verified
To calculate the costs per equivalent un...
Fundamentals of Cost Accounting 2nd Edition by William Lanen, Carolyn Wells, Michael Maher
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