Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:
Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:
Units | Percent Complete with Respect to Conversion | |
---|---|---|
Beginning work in process inventory | 14,000 | 50% |
Started into production during June | 76,000 | |
Ending work in process inventory | 20,000 | 10% |
According to the companys records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started