Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 36,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 132,000. Units completed and transferred out: 168,000. Ending Inventory: 35,500 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $54,000. Costs in beginning Work in Process - Conversion: $59,850. Costs incurred in February - Direct Materials: $363,450. Costs incurred in February - Conversion: $610,150. Calculate the cost per equivalent unit of conversion. Multiple Choice $3.98 $5.05 $3.75 $3.26 $4.70

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Chapter1: Financial Statements And Business Decisions
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Sparky Corporation uses the weighted-average
method of process costing. The following
information is available for February in its
Molding Department: Units: Beginning
Inventory: 36,000 units, 100% complete as to
materials and 55% complete as to conversion.
Units started and completed: 132,000. Units
completed and transferred out: 168,000. Ending
Inventory: 35,500 units, 100% complete as to
materials and 30% complete as to conversion.
Costs: Costs in beginning Work in Process -
Direct Materials: $54,000. Costs in beginning
Work in Process - Conversion: $59,850. Costs
incurred in February - Direct Materials:
$363,450. Costs incurred in February -
Conversion: $610,150. Calculate the cost per
equivalent unit of conversion.
Multiple Choice
$3.98
$5.05
$3.75
$3.26
$4.70
Transcribed Image Text:Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 36,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 132,000. Units completed and transferred out: 168,000. Ending Inventory: 35,500 units, 100% complete as to materials and 30% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $54,000. Costs in beginning Work in Process - Conversion: $59,850. Costs incurred in February - Direct Materials: $363,450. Costs incurred in February - Conversion: $610,150. Calculate the cost per equivalent unit of conversion. Multiple Choice $3.98 $5.05 $3.75 $3.26 $4.70
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