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The following cost information is available for July for the Crest Plant at Calvert Company: Beginning work-in-process inventory Materials cost $ 65,500 Conversion cost 44,500
The following cost information is available for July for the Crest Plant at Calvert Company:
Beginning work-in-process inventory | |
---|---|
Materials cost | $ 65,500 |
Conversion cost | 44,500 |
Total | $ 110,000 |
Current costs | |
Materials cost | $ 215,000 |
Conversion cost | 465,000 |
Total | $ 680,000 |
Materials are added at the beginning of the process. The following quantities have been recorded:
- Beginning inventory, 49,500 partially complete gallons, 15 percent complete with respect to conversion costs.
- Units started in July, 89,500 gallons.
- Units transferred out in July, 99,500 gallons.
- Ending inventory, 39,500 gallons, 65 percent complete with respect to conversion costs.
Required:
Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method.
Note: Round your answers to 2 decimal places.
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