Severn Company uses the FIFO method in its process costing system. The following

Question

Severn Company uses the FIFO method in its process costing system. The following data were taken from the accounting records of the company for last month:

Beginning work in process inventory
(52,000; materials 100% complete; labor and overhead 40% complete)........15,000 units
Units started during the period........70,000 units
Units completed during the period .........80,000 uniuts
Ending work in process inventory
(material 100% complete; labor and overhead 80% complete)........?units
Cost per equivalent unit:
Materials.............3.0
labor and overhead.........1.25

The cost of the units in the ending Work in Process inventory is:
a.17,000
b,20,000
c.10,000
d.22,500

Explanation / Answer

b,20,000

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.