ansas 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 Percent Complete with Respect to Conversion Beginning work-in-process inventory 11,000 50 % Started into production during June 98,000 Ending work-in-process inventory 21,000 80 %According to the company's records, the conversion cost in beginning work-in-process inventory was $46,915 at the beginning of June. Additional conversion costs of $825,183 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round your answer to 3 decimal places.) $8.322. $6.934. $8.530. $8.420.
ansas 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 Percent Complete with Respect to Conversion Beginning work-in-process inventory 11,000 50 % Started into production during June 98,000 Ending work-in-process inventory 21,000 80 %According to the company's records, the conversion cost in beginning work-in-process inventory was $46,915 at the beginning of June. Additional conversion costs of $825,183 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round your answer to 3 decimal places.) $8.322. $6.934. $8.530. $8.420.
Chapter5: Process Costing
Section: Chapter Questions
Problem 4EA: There were 1,700 units in beginning inventory that were 40% complete with regard to conversion....
Related questions
Question
100%
Kansas 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:
According to the company's records, the conversion cost in beginning work-in-process inventory was $46,915 at the beginning of June. Additional conversion costs of $825,183 were incurred in the department during the month.
What was the cost per equivalent unit for conversion costs for the month? (Round your answer to 3 decimal places.)
| Units | Percent Complete with Respect to Conversion | |||||
| Beginning work-in-process inventory | 11,000 | 50 | % | |||
| Started into production during June | 98,000 | |||||
| Ending work-in-process inventory | 21,000 | 80 | % |
What was the cost per equivalent unit for conversion costs for the month? (Round your answer to 3 decimal places.)
|
$8.322.
|
||
|
$6.934.
|
||
|
$8.530.
|
||
|
$8.420.
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning