Overboard Corporation Uses the First-In, First-Out Method in Its Process

question 181

Multiple Choice

Overboard Corporation uses the first-in, first-out method in its process costing system. In the Cutting Department in June, units were 80% complete with respect to conversion in the beginning work in process inventory and 25% complete with respect to conversion in the ending work in process inventory. Other data for the department for June follow: The cost per equivalent unit for conversion cost is closest to:

• A) $1.75
• B) $1.51
• C) $1.45
• D) $1.98

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