Ibarra Corporation uses the FIFO method in its process costing system. The first processing department, the...

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Ibarra Corporation uses the FIFO method in its process costing system. The first processing department, the Forming Departmen

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Answer 1

Answer #1

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Option = $5.79

Decsription	Units
To complete beginning work in process:
Conversion: 16,200 units × (100% – 20%)	12,960.00
Units started and completed (102,000-16,200)	85,800.00
Ending work in process:
Conversion: 13,200 units × 30%	3,960.00
Equivalent units of production	102,720.00

Cost added during the period	$ 595,123.00
Equivalent units of production	102,720.00
Cost per equivalent unit	$ 5.79

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Answer 2

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