Multiple Choice
Gholson, Inc. employs a process costing system in which direct materials are added at the beginning of the process. Direct material costs from the prior period for beginning work in process are $1,250. The current period's direct material costs total $31,500. The company began the period with 500 units, 70% complete, started 10,500 units, and finished the period with 1,000 units, 40% complete.
Using a FIFO system, the direct material cost per equivalent unit is:
A) $3.00
B) $2.98
C) $3.20
D) $2.55
Correct Answer:
Verified
Correct Answer:
Verified
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