A company uses a process cost accounting system and the FIFO inventory valuation

Question

A company uses a process cost accounting system and the FIFO inventory valuation method. Its Assembly Department's beginning inventory consisted of 63,000 units, 3/4 complete with respect to direct labor and overhead. The department started and finished 140,500 units this period. The ending inventory consists of 53,000 units that are 1/4 complete with respect to direct labor and overhead. All direct materials are added at the beginning of the process. Goods in Process included direct labor costs of $37,000 and overhead costs of $45,000 for the period. The direct labor cost per equivalent unit is:

Explanation / Answer

$0.205

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