The following cost information is available for July for the Crest Plant at Calvert Company: Materials are
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The following cost information is available for July for the Crest Plant at Calvert Company:
Materials are added at the beginning of the process. The following quantities have been recorded:
∙ Beginning inventory, 40,000 partially complete gallons, 25 percent complete with respect to conversion costs.
∙ Units started in July, 80,000 gallons.
∙ Units transferred out in July, 90,000 gallons.
∙ Ending inventory, 30,000 gallons, 40 percent complete with respect to conversion costs.
Required
Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method.
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