A company uses a process cost accounting system. The following information is available regarding direct labor for the current year:
>Goods in process, January 1.....5,500 units, 80% complete
>goods in process, dec 31.....8,800 units, 40% complete
>units completed and tansferred to finished goods.....46,900 units
>Direct labor costs during the year....$266,300
(a) Calculate the equivalent units of production for direct labor for the year.
(b) Calculate the average cost per equivalent unit for direct labor (round to the nearest cent).