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question a company uses the fifo method for inventory costing during aperiod a produ 4281732

Question

A company uses the FIFO method for inventory costing. During aperiod, a production department had 58,000 units in beginning goodsin process inventory which were 31% complete; the departmentcompleted and transferred 166,000 units. At the end of the period,13,000 units were in the ending goods in process inventory and are66% complete. All of these are with respect to labor. Theproduction department had labor costs in the beginning goods isprocess inventory of $88,000 and total labor costs added during theperiod are $726,575. Compute the equivalent cost per unit forlabor. $4.73. $5.21. $4.64. $4.67. $4.85.

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