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 800
Materials costs $ 12,900
Conversion costs $ 5,000
Percent complete with respect to materials 75%
Percent complete with respect to conversion 20%
Units started into production during the month 9,500
Units transferred to the next department during the month 8,400
Materials costs added during the month $ 172,000
Conversion costs added during the month $ 240,200
Ending work in process inventory:
Units in ending work in process inventory 1,900
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

Currency Internationalization Global Experiences And Implications For The Renminbi

Authors: Wensheng Peng, Chang Shu

2nd Edition

0230580491, 9780230580497

More Books

Students also viewed these Accounting questions

Question

how to find optimal solution

Answered: 1 week ago