Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Inacio 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:

Inacio 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 2,400
Materials costs $ 14,500
Conversion costs $ 6,600
Percent complete with respect to materials 75 %
Percent complete with respect to conversion 20 %
Units started into production during the month 11,100
Units transferred to the next department during the month 10,000
Materials costs added during the month $ 173,600
Conversion costs added during the month $ 243,600
Ending work in process inventory:
Units in ending work in process inventory 3,500
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:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

More Books

Students also viewed these Accounting questions