Business, 29.10.2021 02:10 dria40

During the month of February, a company purchased 260,000 pounds of raw material for $5 per pound and used 250,000 of these pounds in production. This raw material is applied at the beginning of the process. On February 1, the company had 10,000 units in work-in-process inventory that were 10% complete and valued at $25,000 for materials. At the end of the month, there were 40,000 units in work-in-process inventory that were 40% complete. Assuming FIFO is used, if the company transferred out 500,000 units to finished goods during February, the direct material cost per unit that should be used to value ending work-in-process inventory is:. A. $2.52
B. $2.50
C. $2.47
D. $2.36

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During the month of February, a company purchased 260,000 pounds of raw material for $5 per pound an...

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