d. Novera, Limited reported the following physical units in work-in-process inventory for July in Department N: Work-in-process, July 1 (5% complete) Work-in-process, July 31 (90% complete) 68,000 55,000 Department N is the second stage of the process at Novera. Materials are added at the end of the process. Department N uses FIFO process costing. At the end of July, the equivalent units for transferred-in resources was 293,000 for calculating product cost. What were the equivalent units used in the production cost computation for the month of July for materials and conversion costs using the FIFO method? O Multiple Choice Materials 361,000; Conversion 407,100 Materials 306,000; Conversion 352,100 Materials 293,000; Conversion 352,100 Materials 306,000; Conversion 290,900 None of the options are correct

d. Novera, Limited reported the following physical units in work-in-process inventory for July in Department N: Work-in-process, July 1 (5% complete) Work-in-process, July 31 (90% complete) 68,000 55,000 Department N is the second stage of the process at Novera. Materials are added at the end of the process. Department N uses FIFO process costing. At the end of July, the equivalent units for transferred-in resources was 293,000 for calculating product cost. What were the equivalent units used in the production cost computation for the month of July for materials and conversion costs using the FIFO method? O Multiple Choice Materials 361,000; Conversion 407,100 Materials 306,000; Conversion 352,100 Materials 293,000; Conversion 352,100 Materials 306,000; Conversion 290,900 None of the options are correct

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Description: d. Novera, Limited reported the following physical units in work-in-process inventory for July in Department N:Work-in-process, July 1 (5% complete)Work-in-process, July 31 (90% complete)68,00055,000Department N is the second stage of the process at

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6PA: Narwhal Swimwear has a beginning work in process inventory of 13,500 units and transferred in...

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Ardt-Barger has a beginning work in process inventory of 5.500 units and transferred in 25,000 units before ending the month with 3.000 u flits that were 100% complete with regard to materials and 80% complete with regard to conversion costs. The cost per unit of material is $5.45, and the cost per unit for conversion is $6.20 per unit, Using the weighted-average method, prepare the companys process cost summary for the month.
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