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Dextrose Special Teas uses process costing to account for costs in the manufacture of its fresh - brewed iced tea that it sells in pint

Dextrose Special Teas uses process costing to account for costs in the manufacture of its fresh-
brewed iced tea that it sells in pint bottles.The following information applies to operations for the
month of November.
Beginning Inventory: Raw Units 20,000,Material Costs $92,000,Conversion Costs
$38,000.
Units Started: 80,000
Ending Inventory: 22,000
The beginning inventory was 80%complete as to materials and 60%complete as to conversion
costs.The ending inventory was 100%complete as to materials and30%complete as to conversion
costs.Round per unit calculations to the nearest $o.oo1and round balances and transferred amounts
to the nearest $1.00
Assume that $384k of materials and $666k of conversion costs are added during the period. Determine the FIFO cost per equivalent unit of conversion added in November. Round to the nearest $0.001

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