TB MC Qu. 16-115 (Algo) Richards Corporation uses the weighted-average...

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating department:

	Units	Direct materials Percent Complete	Conversion Percent Complete
Beginning work in process inventory	96,000	80%	20%
Units started and completed	282,000
Units completed and transferred out	378,000
Ending work in process inventory	38,000	30%	10%

Production cost information for the Fabricating department follows.

Beginning work in process
Direct materials	$ 114,760
Conversion	95,700	$ 210,460
Costs added this period
Direct materials	$ 804,560
Conversion	1,111,110	1,915,670

Calculate the cost per equivalent unit for conversion.

Multiple Choice

• $2.97

• $2.75

• $3.12

• $3.06

• $3.16