Penny, inc. employs a process costing system. direct materials are added at the beginning of the process. here is information about july's activities: on july 1: beginning inventories 850 units, 60% completedirect materials cost $5,000conversion costs $4,000during july: number of units started 15,000direct materials added $155,000conversion costs added $83,520on july 31: ending inventories 1,600 units, 40% completeusing the fifo method, the cost per equivalent unit for materials used during july was $10.78 $10.33 $9.78 $10.65

Cost per EUP Materials: $10,33

Explanation:

Beginning WIP Units: 850 (850 x 100%)

Units Completed:  850 + 15,000 - 1,600 = 14,250

Ending WIP Units: 1,600 (1,600 x 100%)

Equivalent Units of Production (FIFO): Units Completed and Transferred Out + Equivalent Units in ending WIP - Equivalent Units in Beginning WIP

EUP Materials: 14,250 + 1,600 - 850 = 15,000

Cost per Equivalent Unit (FIFO): Total Cost Incurred in the Period / Equivalent Units of Production  

Cost per EUP Materials: $155,000 / 15,000 = $10,33

answer; ///i believe that the correct answer is (d) ///all of the

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