Use this information about Carmelita Inc. to answer the question that follow. Carmelita Inc. has the...

Use this information about Carmelita Inc. to answer the question that follow.

Carmelita Inc. has the following information available:

	Costs from Beginning Inventory	Costs from Current Period
Direct materials	$5,100	$23,600
Conversion costs	6,500	158,100

At the beginning of the period, there were 500 units in process that were 45% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,100 units were started and completed. Ending inventory contained 400 units that were 22% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method.

The cost of completing a unit (rounded to the nearest cent) during the current period was

Expert Solution

unit transfered out = beginning + started -ending

= 500 +5100 -400

= 5200

	Material	conversion
Units transfered from beginning WIP	0	275 [500(1-.45 complete) ,so it means .55 is incomplete]
units started and transfered out [5200-500 from beginning WIP ]	4700	4700
Ending WIP	400	88 [400*.22]

Equivalent units	5100	5063
cost incurred during the period	23600	158100
cost per equivalent units	23600/5100 = $ 4.62745	158100/5063 = $ 31.22655

The cost of completing a unit (rounded to the nearest cent) during the current period = material cost +conversion cost

= 4.62745+31.22655

= $ 35.85 per unit

ekkarill92 answered 1 year ago

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