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: Beginning work in process inventory Started into production during June Ending work in process inventory Units 14,000 76,000 20,800 Percent Complete with Respect to Conversion 50 % 10 % 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.)
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: Beginning work in process inventory Started into production during June Ending work in process inventory Units 14,000 76,000 20,800 Percent Complete with Respect to Conversion 50 % 10 % 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.)
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text: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:
Beginning work in process inventory
Started into production during June
Ending work in process inventory
$9.410
$7.521
$5.954
Units
$9.220
14,000
76,000
20,800
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.)
Percent
Complete
with
Respect to
Conversion
50 %
10 %
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