Reference no: EM133157663
Question - Beta Company uses a process-costing system to manufacture a computer component. The following information pertains to operations for the month of March 2022.
Units
Beginning work-in-process inventory, 1 March 12,000
Started in production during March 120,000
Completed production during March 110,000
Ending work-in-process inventory, 31 March 22,000
Material is added at the beginning of the process, and the beginning inventory was 70% complete for conversion costs and the ending inventory was 30% complete for conversion costs.
Costs pertaining to the month of March are as follows.
Beginning inventory costs are: materials, $65,750; direct labour $25,500; and factory overhead, $12,500.
Costs incurred during March are: materials used, $125,000; direct labour, $210,700; and factory overhead, $296,300.
Question 1- If Beta Company uses the first-in-first-out (FIFO) process costing method, compute the material cost per equivalent unit for the month of March.
a. $0.95
b. $1.04
c. $1.45
d. $1.59
e. None of the answers.
Question 2 - If Beta Company uses the first-in-first-out (FIFO) process costing method, compute the conversion cost per equivalent unit for the month of March.
a. $2.65
b. $2.81
c. $4.13
d. $4.49
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