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Cost Information and the Weighted Average Method Morrison Company had the equivalent units schedule and cost information for its Sewing Department for the month
Cost Information and the Weighted Average Method Morrison Company had the equivalent units schedule and cost information for its Sewing Department for the month of December, as shown below. Units completed Direct Materials 46,000 Conversion Costs. 46,000 Add: Units in ending work in process x Percentage complete: 14,000 x 100% direct materials 14,000 14,000 x 40% conversion materials 5,600 Eqivalent units of output 60,000 51,600 Costs: Work in process, December 1: Direct materials Conversion costs Total work in process Current costs: Direct materials Conversion costs Total current costs $60,000 11,000 $71,000 $580,000 181,000 $761,000 Required: 1. Calculate the unit cost for December, using the weighted average method. Round final answer to the nearest cent. (NOTE: retain unrounded interim amounts for use in part 2.) 14.38 per equivalent unit
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