A company uses process costing. The following information pertains to the month of January: Cost information for January: Materials Conversion Beginning WIP $$13,000$$$48,00\mathrm{0 }$Current Period $$165,000$$$260,00\mathrm{0 }$Physical inventory for January: Units in beginning work$-$in$-$process inventory $500$Units started $200\mathrm{0 }$Units completed and transferred out $240\mathrm{0 }$Units in ending work$-$in$-$process inventory $10\mathrm{0 }$Ending work$-$in$-$process inventory is $70\%$ complete with respect to materials costs and $30\%$ complete with respect to conversion costs. What is the cost per equivalent unit for materials costs for the month of January?

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To calculate the cost per equivalent unit for materials costs we need to determine the equivalent un... View the full answer