Tanner Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below:
|
|
|
Percentage |
|
|
Units |
complete |
|
Beginning work in process inventory |
8,200 |
80% |
|
Transferred in from the prior department during March |
52,000 |
|
|
Completed and transferred to the next department |
|
|
|
during March |
54,200 |
|
|
Ending work in process inventory . |
6,000 |
50% |
According to the company”s records, the conversion cost in beginning work in process inventory was $7,872 at the beginning of March. The cost per equivalent unit for conversion costs for March was $1.10. How much conversion cost would be assigned to the units completed and transferred out of the department during March?
A) $52,404
B) $59,620
C) $60,276
D) $57,200