Qimper Corporation uses the FIFO method in its process costing system. Operating data for the Cutting Department for the month of March appear below:
|
|
|
Percentage |
|
|
Units |
complete |
|
Beginning work in process inventory |
6,600 |
70% |
|
Transferred in from the prior department during March |
54,000 |
|
|
Completed and transferred to the next department |
|
|
|
March |
58,600 |
|
|
Ending work in process inventory |
2,000 |
40% |
According to the company”s records, the conversion cost in beginning work in process inventory was $38,069 at the beginning of March. Additional conversion costs of $444,047 were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for March on the Cutting Department”s production report? (Round off to three decimal places.)
A) $7.956
B) $8.223
C) $8.106
D) $8.240