The following cost information is available for July for the Crest Plant at Calvert Company: 

Materials are added at the beginning of the process. The following quantities have been recorded:

∙ Beginning inventory, 40,000 partially complete gallons, 25 percent complete with respect to conversion costs.

∙ Units started in July, 80,000 gallons.

∙ Units transferred out in July, 90,000 gallons.

∙ Ending inventory, 30,000 gallons, 40 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.

Transcribed Image Text:

Beginning work-in-process inventory Materials cost..... Conversion cost Total...... Current costs Materials cost..... Conversion cost. Total.... $ 56,000 35,400 $91,400 ... $124,000 372,600 $496,600