Question: Assad Company uses the process costing method with the following data for the month of July. Work-in-process, July 1, 30,000 units: Direct material: 100% completed

Assad Company uses the process costing method with the following data for the month of July.

Work-in-process, July 1, 30,000 units:

Direct material: 100% completed

$65,500

Conversion: 30% completed

51,910

Balance in work in process, July 1

$117,410

Units started during July

40,000

Units finished

50,000

Work in process, July 31, 20,000 units:

Direct material: 100% completed

Conversion: 60% completed

Cost incurred during July:

Direct materials

$120,000

Conversion costs

199,810

Total

$319,810

Required:

Compute cost per equivalent unit under the weighted-average method.

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