Question: Larner Company uses the FIFO method in its process costing system. Operating data for the first processing department for the month of June appear below:
Larner Company uses the FIFO method in its process costing system. Operating data for the first processing department for the month of June appear below:
Units Percentage complete
Beginning work in process inventory
Started into production during June
Ending work in process inventory
According to the company's records, the conversion cost in beginning work in process inventory was $ at the beginning of June. Additional conversion costs of $ were incurred in the department during the month.
What was the cost per equivalent unit for conversion costs for the month? Round your answers to two decimal places.
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