Question: Richards Corporation uses the weighted - average method of process costing. The following information is available for October in its Fabricating Department: Units: Beginning Inventory:

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department:
Units:
Beginning Inventory: 89,000 units, 80% complete as to materials and 25% complete as to conversion.
Units started and completed: 268,000.
Units completed and transferred out: 357,000.
Ending Inventory: 34,500 units, 30% complete as to materials and 10% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $46,200.
Costs in beginning Work in Process - Conversion: $88,700.
Costs incurred in October - Direct Materials: $722,370.
Costs incurred in October - Conversion: $928,300.
Calculate the cost per equivalent unit of materials.

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