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Assume Towery Company uses a process costing system based on the weighted average method. Towery's accountant produces the following equivalent unit calculations for the month
Assume Towery Company uses a process costing system based on the weighted average method. Towery's accountant produces the following equivalent unit calculations for the month of July for the first department:
Equivalent Units
Direct Materials Conversion Costs
Done Units Done Units
Completed and transferred
Ending inventory
Equivalent units of production
Also, assume that the beginning inventory had accumulated $ of materials and $ of conversion costs in the previous month. During the month of July, current costs included $ of materials and $ of conversion costs.
Calculate the average cost per equivalent unit for conversion costs for the month of July.
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