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Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below
Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the departments operations in January.
Units | Percent Complete with Respect to Conversion | ||||||
Beginning work in process inventory | 5,550 | 70 | % | ||||
Transferred in from the prior department during January | 59,450 | ||||||
Completed and transferred to the next department during January | 57,250 | ||||||
Ending work in process inventory | 7,750 | 40 | % | ||||
The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $35,008 and a total of $559,704 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to
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