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Explain what are cost per equivalent unit for materials

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Hayek Corporation uses the FIFO method in its process costing. The following data concern the company's mixing department for the month of August.

                                                                                                      Materials                    Conversion

Work in process, August 1                                                                     $31,734                  $30,320

Cost added to production in the mixing department during August                   $91,332                  $81,864

Equivalent units of production for August                                                     7,740                          7,580

Required:

Question 1: What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the mixing department for August using the FIFO method?

Reference no: EM132632446

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