Question
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 | 5,150 | 70 | % | ||||
Transferred in from the prior department during January | 59,050 | ||||||
Completed and transferred to the next department during January | 56,850 | ||||||
Ending work in process inventory | 7,350 | 40 | % | ||||
The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,608 and a total of $559,304 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:
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