Grosseiller Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,950 units. The costs and percentage completion of these units in beginning inventory were:
|
|
Cost
|
Percent Complete
|
|
Materials costs
|
$23,600
|
70%
|
|
Conversion costs
|
$29,800
|
50%
|
A total of 13,400 units were started and 10,200 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
|
Materials costs
|
$827,400
|
|
Conversion costs
|
$255,300
|
The ending inventory was 65% complete with respect to materials and 15% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least two decimal places.
The cost per equivalent unit for materials for the month in the first processing department is:
$62.82
$113.34
$45.88
$51.27