Question: Larner Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

  1. Larner Company 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

    Percentage complete

    Beginning work in process inventory

    24,000

    40%

    Started into production during June

    86,000

    Ending work in process inventory

    19,000

    20%

    According to the company's records, the conversion cost in beginning work-in-process inventory was $68,064 at the beginning of June. Additional conversion costs of $585,324 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.)

    $5.575.

    $6.174.

    $6.892.

    $7.090.

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