Ask Question
22 September, 22:47

Layla Company began making mascara in November 2018 using a single-step process. Layla incurred $42,000 for materials and $48,640 for conversion during the month. There were 21,000 cases of mascara started in November and 3,000 cases unfinished (40 percent complete) at the end of the period. All materials were added at the beginning of the production process. What is the unit cost for materials for Layla using the FIFO method?

+3
Answers (1)
  1. 23 September, 02:38
    0
    The unit cost for materials for Layla using the FIFO method is $2.

    Explanation:

    Physical unit % EUP-material

    Units started and completed 18000 100% 18000

    Ending work in process 3000 100% 3000

    Total 21000 21000

    Unit cost = 42000/21000

    = $2 per unit

    Therefore, The unit cost for materials for Layla using the FIFO method is $2.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Layla Company began making mascara in November 2018 using a single-step process. Layla incurred $42,000 for materials and $48,640 for ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers