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Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed
Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory: | |||
Units in beginning work in process inventory | 1,400 | ||
Materials costs | $ | 13,500 | |
Conversion costs | $ | 5,600 | |
Percent complete with respect to materials | 75 | % | |
Percent complete with respect to conversion | 20 | % | |
Units started into production during the month | 10,100 | ||
Units completed and transferred to the next department during the month | 9,000 | ||
Materials costs added during the month | $ | 172,600 | |
Conversion costs added during the month | $ | 242,600 | |
Ending work in process inventory: | |||
Units in ending work in process inventory | 2,500 | ||
Percent complete with respect to materials | 90 | % | |
Percent complete with respect to conversion | 30 | % | |
The cost per equivalent unit for materials for the month in the first processing department is closest to:
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