Chae Corporation uses the weighted average method in its process costing system This month, the beginning inventory in the first processing department consisted of 730 units The costs and percentage completion of these units in beginning inventory were Cost Percent Complete Materials costs $8,200 75 Conversion costs $7,200 25 A total of 8,400 units were started and 7,750 units were transferred to the second processing department during the month The following costs were incurred in the first processing department during the month Materials costs $138,200 Conversion costs $324,200 The ending inventory was 90 complete with respect to materials and 75 complete with respect to conversion costs Note Your answers may differ from those offered below due to rounding error In all cases, select the answer that is the closest to the answer you computed To reduce rounding error, carry out all computations to at least three decimal places The cost per equivalent unit for materials for the month in the first processing department is closest to

The Answer is in the image, click to view ...

Question: Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 730 units.

Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 730 units. The costs and percentage completion of these units in beginning inventory were:

	Cost	Percent Complete
Materials costs	$8,200	75%
Conversion costs	$7,200	25%

A total of 8,400 units were started and 7,750 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Materials costs	$138,200
Conversion costs	$324,200

The ending inventory was 90% complete with respect to materials and 75% complete with respect to conversion costs.

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.

The cost per equivalent unit for materials for the month in the first processing department is closest to:

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Diston Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 21,000 units in its beginning work in...

Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the department consisted of 800 units. The costs and percentage completion of...

1. Diston Company uses the weighted-average method in its process costing system. The first processing department, the Welding Department, started the month with 17,000 units in its beginning work in...

1. The following information pertains to Yap Company's Grinding Department for the month of April: Units Materials Costs Beginning work in process 19,000 $11,500 Started in April 39,000 $26,000 Units...

A.) Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 620 units. The costs and...

1.) Chae Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 560 units. The costs and...

In a process costing system, overhead costs are traced to units of product as they are incurred. A) True B) False 2. A process cost system would be used to account for the cost of manufacturing an...

1 Jaderston 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: 2 3 The cost per...

A 2-kg particle rests on a smooth horizontal plane and is acted upon by forces Fx = 0 and Fy = 3N. If x = 0, y = 0, vx = 6 m/s, and vy = 2 m/s when t = o, determine the equation y = f (x) which...

TOPP Company is planning to invest $20,000,000 in an expansion program expected to increase income before interest and taxes by $4,000,000. TOPP currently is earning $5 per share on 2,000,000 shares...

Duration is the sensitivity of bond price to interest rate change

Which project management tool uses the analogy "skateboard - bicycle - motorcycle - car"? Group of answer choices Scrum Waterfall Fate - Gate Star - gate

Mary Barra as a HR professional has been a very good CEO for GM because she understands the challenges of the 21st century to business operations. What are those challenges and how has she addressed...

Of the intrapersonal, interpersonal, and leadership skills, which one is your strongest? Your weakest?

Watch the video www.youtube.com/watch?v=5pdQZX Bjics on Mary Barra and see how she took over GM, a company with a problem past, and as CEO is fixing problems and has turned GM around to be profitable...