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A company which operated a process costing system had work in progress at the start of last month of 400 units valued at $3,000, which were 40% completed in respect of all costs.
Last month 1,500 units were completed and transferred to the finished goods warehouse.
The cost per equivalent unit for output produced last month was $20.
The company uses the FIFO method of cost allocation.
What is the total cost of the 1,500 units transferred to the finished goods warehouse last month?
I worked the answer to $ 26,800.00
If you look at the answer to a similar question here https://opentuition.com/topic/please-help-me-with-this-fifo-question/ you should be able to see if you worked out the answer correctly.
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