Overhill Corporation Uses the FIFO Method in Its Process Costing

question 3

Multiple Choice

Overhill Corporation uses the FIFO 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)$1.48
• B)$1.50
• C)$1.16
• D)$1.82

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