Hayek Corporation uses the FIFO method in its process costing. The following data concern the...
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Accounting
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 Mixing
Department during August $91,332 $81,864
Equivalent units of production for August 7,740 7,580
What are the cost per equivalent unit for materials and the cost per equivalent for conversion for the Mixing Department for August using FIFO method?
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