Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processingdepartment consisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were:Materials costsConversion costsCost$ 6,800$ 3,000Materials costsConversion costsA total of 8,100 units were started and 7,400 units were transferred to the second processing department during the month. The following costs wereincurred in the first processing department during the month:Percent Complete50%20%Cost$ 160,000$ 121,700The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.The cost per equivalent unit for materials for the month in the first processing department is closest to: OO$15.15$17.67$14.63$15.40

Process costing is the method of costing which is used for the purpose of tracking the number of…

Answered: $15.15 $17.67 $14.63 $15.40

Business

Accounting

$15.15 $17.67 $14.63 $15.40

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing
department consisted of 1,700 units. The costs and percentage completion of these units in beginning inventory were:
Materials costs
Conversion costs
Cost
$ 6,800
$ 3,000
Materials costs
Conversion costs
A total of 8,100 units were started and 7,400 units were transferred to the second processing department during the month. The following costs were
incurred in the first processing department during the month:
Percent Complete
50%
20%
Cost
$ 160,000
$ 121,700
The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
The cost per equivalent unit for materials for the month in the first processing department is closest to:

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