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Question
Refer to the following information about the Finising Department in the Davidson Factory for the month of June. Davidson Factory uses the FIFO method of inventory costing.Beginning Work in Process inventory:
Physical units 5,000 units
% complete for materials 70%
% complete for labor and overhead 25%
Materials cost from May $7,350
Labor and overhead cost from May $3,125
Product started and completed:
Physical units 40,000 units
Ending Work in Process inventory:
Physical units 4,000 units
% complete for materials 40%
% complete for labor and overhead 10%
Manufacturing costs for June:
Materials $96,975
Labor and overhead"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6"u00a6 $79,470
Compute the equivalent cost per unit for direct materials, direct labor and overhead for June.
Answer
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