Carmelita Inc., has the following information available: Costs from Beginning...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Carmelita Inc., has the following information available:
Costs from Beginning Inventory
Costs from current Period
Direct materials
$5,100
$25,900
Conversion costs
5,900
156,400
At the beginning of the period, there were 500 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,600 units were started and completed. Ending inventory contained 300 units that were 23% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs.
The total costs that will be transferred into Finished Goods for units started and completed were
a. $130,204
b. $221,553
c. $169,096
d. $180,124
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
