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Category > Accounting Posted 12 Dec 2017 My Price 10.00

weighted-average method in its process costing system

Paquet Company uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January.

               

   

Units

Percent Complete with Respect to Conversion
 

Beginning work in process inventory            

7,700

40%
 

Transferred in from the prior                         

    
 

department during January                            

56,000

  
 

Completed and transferred to the next          

    
 

department during January                            

58,400

  
 

Ending work in process inventory                 

5,300

90%

 

                The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $16,940 and a total of $347,320 in conversion costs were incurred in the department during January.

 

                What was the cost per equivalent unit for conversion costs for January in the Molding Department? (Round off to three decimal places.)

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CourseLover
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Status NEW Posted 12 Dec 2017 02:12 PM My Price 10.00

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