The ledger of Hasgrove Company has the following work in process account

The ledger of Hasgrove Company has the following work in process account.

3/1Balance 3,680

3/31Materials 6,600

3/31Labor 2,400

3/31Overhead 1,150

Production records show that there were 800 units in the beginning inventory, 30% complete, 1,100 units started, and 1,500 units transferred out. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Hasgrove uses the FIFO method to compute equivalent units. Answer and solve these 4 questions

What is the unit materials cost for March?

What is the total cost of units started in February and completed in March?

  What is the total cost of units started and finished in March?

What is the cost of the March 31 inventory?

Here’s the SOLUTION

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