Larner Corporation 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 $68,064 at the beginning of June.Additional conversion costs of $585,324 were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:

Question

Larner Corporation 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 $68,064 at the beginning of June.Additional conversion costs of $585,324 were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:

Quizplus · Accepted Answer

Weighted-average method
Units transferred to the next department = Units in beginning work in process + Units started into production - Units in ending work in process = 24,000 + 86,000 - 19,000 = 91,000
 11eaa3fe_3312_ec2a_908b_3bc3374f6167_TB2461_00 
 11eaa3fe_3313_133b_908b_cdc7db60b04c_TB2461_00

Larner Corporation Uses the Weighted-Average Method in Its Process Costing