Business, 14.11.2019 05:31 cocobelle

Penny, inc. employs a process costing system. direct materials are added at the beginning of the process. here is information about the july activities:
on july 1:
beginning inventories 850 units, 60% complete
direct materials cost $5,000
conversion costs $4,000
during july:
number of units started 15,000
direct materials added $155,000
conversion costs added $83,520
on july 31:
ending inventories 1,600 units, 40% complete
using the fifo method and rounding cost per unit to the nearest whole dollar, the cost of goods completed and transferred out during july was
a. $227,270
b. $236,905
c. $228,200
d. $223,400

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