Mannarelli Corporation uses the FIFO method in its process costing system. Opera
ID: 2350324 • Letter: M
Question
Mannarelli Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the month of September appear below:Units.. % complete with respect to conversion
Beginning work in process inventory 15,000 20%
Transferred in from the prior department during September 89,000
Ending work in process inventory 24,000 90%
According to the company's records, the conversion cost in beginning work in process inventory was $15,660 at the beginning of September. Additional conversion costs of $526,524 were incurred in the department during the month.
The cost per equivalent unit for conversion costs for September is closest to: (Round off to three decimal places.)
Explanation / Answer
5.340 is correct. I got my quiz question wrong thanks to the two answers above. Also my quiz gives me the correct answers after so this is correct.