How much conversion cost would be assigned to the units

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Problem

Tepla 15 Corporation uses the FIFO method...

Tepla Corporation uses the FIFO method in its process costing system. Operating data for the Curing Department for the month of March appear below:


Units

Percent Complete
with Respect to conversion

  Beginning work in process inventory

6,200

70%

  Transferred in from the prior department during March

62,000


  Completed and transferred to the next department during March

66,600


  Ending work in process inventory

1,600

40%

According to the company's records, the conversion cost in beginning work in process inventory was $40,720 at the beginning of March. The cost per equivalent unit for conversion costs for March was $9.20.

How much conversion cost would be assigned to the units completed and transferred out of the department during March?

Reference no: EM131913173

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