Question
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 | % Complete - 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 company's 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.)
| a. | $9.410 | |
| b. | $7.521 | |
| c. | $5.954 | |
| d. | $9.220 |
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