Lanjan 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 $92,218 at the beginning of June.Additional conversion costs of $571,618 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.)

Question

Lanjan 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 $92,218 at the beginning of June.Additional conversion costs of $571,618 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.)

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 = 14,000 + 76,000 - 20,000 = 70,000 11ea7998_5e4a_ed56_911b_c5feee0d6b95_TB2627_00_TB2627_00 11ea7998_5e4a_ed57_911b_39af046261d4_TB2627_00_TB2627_00

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