What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using the FIFO method?

What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using the FIFO method?

Hayek Corporation uses the FIFO method in its process costing. The following data concern the company’s Mixing Department for the month of August.

Materials Conversion

Work in process, August 1 ……………………………. $31,734 $30,320

Cost added to production in the Mixing

Department during August…………………………….. $91,332 $81,864

Equivalent units of production for August……………… 7,740 7,580

Required:

What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using the FIFO method?


Price: £ 45

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