Question
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 | 1,300 | ||
| Materials costs | $ | 13,400 | |
| Conversion costs | $ | 5,500 | |
| Percent complete with respect to materials | 75 | % | |
| Percent complete with respect to conversion | 20 | % | |
| Units started into production during the month | 10,000 | ||
| Units transferred to the next department during the month | 8,900 | ||
| Materials costs added during the month | $ | 172,500 | |
| Conversion costs added during the month | $ | 242,500 | |
| Ending work in process inventory: | |||
| Units in ending work in process inventory | 2,400 | ||
| 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:
Multiple Choice
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$15.41
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$16.35
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$15.10
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$16.81
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Fundamentals of Corporate Finance
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
3rd edition
1118845897, 978-1118845899
