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P6-9 Page 360 Cost of units completed and ending inventory; FIFO method Clearwater Candy Co....

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Accounting

P6-9 Page 360

Cost of units completed and ending inventory; FIFO method Clearwater Candy Co. had a cost per equivalent pound for the month of $4.56 for materials, $1.75 for labor, and $1.00 for over- head. During the month, 10,250 lb were completed and transferred to finished goods. The 3,200 lb in ending work in process were 100% complete as to materials and 60% complete as to labor and overhead. At the beginning of the month, 1,500 lb were in process, 100% complete as to materials and 50% complete as to labor and overhead. The beginning inventory had a cost of $8,775. Clear- water uses FIFO costing.

What is the total cost of units transferred out?

What is the total cost of units in ending balance?

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