Cost per Equivalent Unit-FIFO Method
Resprin Company uses the FIFO method in its process costing system. Data for the Assembly Department for May appear below: 1
| Materials | Labor | Overhead |
Cost added during May | $82,560 | $52,920 | $132,300 |
Equivalent units of production | 16,000 | 14,000 | 14,000 |
Required:
Compute the cost per equivalent unit for materials, for labor, for overhead, and in total.
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