In Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department
Question:
In Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below
Beginning work in process inventory:
Units in beginning work in process inventory ............................................................800
Materials costs ..........................................................................................................$ 12,900
Conversion costs ......................................................................................................$ 1,000
Percent complete with respect to materials ..................................................................75%
Percent complete with respect to conversion ................................................................10%
Units started into production during the month..........................................................9,500
Units transferred to the next department during the month......................................8,400
Materials costs added during the month ................................................................$ 172,000
Conversion costs added during the month...............................................................$240,200
Ending %slat in process inventory:
Units in ending work in process inventory......................................................................1,900
Percent complete with respect to materials.........................................................................90%
Percent complete with respect to conversion.....................................................................30%
The cost per equivalent unit for materials for the month in the first processing department is closest to:
(a) $17.01
(b) $17.95
(c) $16.70
(d) $18.29
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer