Multiple Choice
Cherrington Company uses a process costing system. For May, the month just completed, the beginning work in process inventory consisted of 50,000 units which were 60% complete with respect to conversion costs. The ending inventory for the month was 20% complete with respect to conversion costs. A summary of cost data for the month follows:
-Using the FIFO method, the cost per equivalent unit of materials for May is closest to:
A) $4.12
B) $4.50
C) $4.60
D) $4.80
Correct Answer:
Verified
Correct Answer:
Verified
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