Belcher Company uses the FIFO method in its process costing system. The Finishing Department started the month with 600 units in process that were 10% complete, received 3,000 units from the Assembly Department, and transferred 3100 units to the finished goods storage area. All materials are added at the beginning of the process and conversion costs occur evenly. The units in process at the end of the month are 55% complete with respect to conversion costs. The department incurred the following costs (see data table):

2. Determine the cost per equivalent unit for the current period for transferred in, direct materials, and conversion costs. (Enter cost per equivalent units to the nearest cent. Abbreviations used: EUP = Equivalent Units of Production; WIP= Work in Process.)

Belcher Company

Production Cost Report - Finishing Department

Transferred

Direct

Conversion

Total

Cost

COSTS

In

Materials

Costs

Costs

per Unit

Costs to account for:

Beginning work-in-process

Ending work-in-process

Total costs to account for

Beginning work-in-process

Divided by: EUP this period

Cost per equivalent unit

Data Table:

	Beginning WIP	Added this month	Total
Transferred In	$6,960	$34,800	$41,760
Direct Materials	900	4,500	5,400
Conversion Costs	1,500	9,282	10,782
Total	$9,360	$48,582	$57,942