Question

At the end of September, the Stone Company had units that were 10% complete as to labor and overhead. Stone adds all materials at the beginning of the process. The costs associated with these units were:

Direct materials 94,000

Direct labor 3,000

Overhead 1,000

Production data for September and October units were as follows:

September's ending work-in-process 20,000

October's ending work-in-process 10,000

Units completed during October 40,000

During October, the costs incurred were $90,000 for materials and $40,000 for labor and $50,300 for overhead. The units at the end of October were 50% complete as to labor and overhead. Calculate the following using the FIFO method. Label the appropriate letters for each answer and circle your final answer:

a. The equivalent units produced as to materials, labor and overhead.

b. The total unit cost for October.

c. The total unit cost for September.

d. The unit cost of those finished and transferred out during October.

e. The cost of inventory on October 31st

ANONYMOUS, please DO NOT answer this question. You have given me 2 different answers and some of your numbers do not add up to the totals you have written. Please let someone else answer this question. Thank you

Answer 1