Question

Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating department: Units Direct materials Percent Complete Conversion Percent Complete Beginning work in process inventory 80,000 60% 20% Units started and completed 250,000 Units completed and transferred out 330,000 Ending work in process inventory 30,000 40% 10% Production cost information for the Fabricating department follows. Beginning work in process Direct materials $ 98,760 Conversion $ 79,700 $ 178,460 Costs added this period Direct materials $ 646,800 Conversion $ 919,300 $ 1,566,100 Calculate the cost per equivalent unit for conversion.

          Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating department:  
Units    Direct materials Percent Complete           Conversion Percent Complete  
Beginning work in process inventory                80,000   60%        20%  
Units started and completed       250,000  
Units completed and transferred out      330,000  
Ending work in process inventory             30,000   40%        10%  
Production cost information for the Fabricating department follows.  
Beginning work in process                            Direct materials $ 98,760                Conversion         $ 79,700   $ 178,460  
Costs added this period                 Direct materials $ 646,800              Conversion         $ 919,300                 $ 1,566,100  
Calculate the cost per equivalent unit for conversion.

Added by Michael A.

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