Question: Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:
Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:
| Units | Percent Complete with Respect to Conversion | ||||||
| Beginning work in process inventory | 14,000 | 50 | % | ||||
| Started into production during June | 76,000 | ||||||
| Ending work in process inventory | 20,800 | 10 | % | ||||
According to the companys records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)
| $9.410 | ||
| $7.521 | ||
| $5.954 | ||
| $9.220 |
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