Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Domingo Corporation uses the weighted - average method in its process costing system. This month, the beginning inventory in the first processing department consisted of

Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were:
Cost Percent Complete
Materials costs $ 6,00050%
Conversion costs $ 2,20020%
A total of 7,300 units were started and 6,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
Cost
Materials costs $ 159,200
Conversion costs $ 120,900
The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
The cost per equivalent unit for materials for the month in the first processing department is closest to:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions