The following information is available from the Oils Division of Glasgow Corporation for December. Conversion...
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The following information is available from the Oils Division of Glasgow Corporation for December. Conversion costs for this division were 80 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process inventory. Information about conversion costs follows. Conversion Units Costs WIP at December 1 (80% complete) Units started and costs incurred during December Units completed and transferred to next department during December 20,000 $ 108,000 232,200 1,306,800 ? 80,000 The Oils Division uses FIFO Required: a-1. Compute the equivalent units for conversion costs. a-2. Compute the cost per equivalent unit for conversion costs. a-3. What was the conversion cost of work-in-process inventory in the Oils Division at December 31? b. What were the conversion costs per equivalent unit produced last period and this period, respectively
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