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Question

Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department.

Units:

  • Beginning Inventory: 44,000 units, 100% completed as to materials and 55% completed as to conversion.
  • Units started and completed: 129,00
  • Units completed and transferred out: 173,000
  • Ending inventory: 39,500 units, 100% completed as to materials and 35% completed as to conversion.

Costs:

  • Costs beginning Work in Process - Direct Materials: $62,000
  • Costs beginning Work in Process - Conversion: $67,850
  • Costs incurred in February - Direct Materials: $414,010.
  • Costs incurred in February - Conversion: $618,150

Calculate the cost per equivalent unit of conversion

 

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