Accounting 2 Multiple Choice

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department Units: Beginning inventory: 87.000 units, 80% complete as to materials and 20% complete as to conversion Units started and completed: 264,000 Units completed and transferred out: 351,000. Ending Inventory: 33,500 units, 30% complete as to materials and 15% complete as to conversion Costs Costs in beginning Work in Process - Direct Materials: $44,200 Costs in beginning Work in Process - Conversion: $86,700. Costs incurred in October - Direct Materials: $719,310 Costs incurred in October - Conversion: $1,144,590 Calculate the cost per equivalent unit of conversion O $2.47 O $3.46 O $3.31 O $2.79 O $3.27