Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listedbelow:Beginning work in process inventory:Units in beginning work in process inventory600$ 7,300$ 2,300Materials costsConversion costsPercent complete with respect to materialsPercent complete with respect to conversionUnits started into production during the monthUnits transferred to the next department during the monthMaterials costs added during the month50%10%9,4008,600$ 196,300$ 315,800Conversion costs added during the monthEnding work in process inventory:Units in ending work in process inventory1,400Percent complete with respect to materialsPercent complete with respect to conversion70%40%The cost per equivalent unit for conversion costs for the first department for the month is closest to: Multiple Choice$19.45$34.73$21.76$24.38

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The cost per equivalent unit for conversion costs for the first department for the month is closest to:

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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Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

100%

Jublot Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed
below:
Beginning work in process inventory:
Units in beginning work in process inventory
600
$ 7,300
$ 2,300
Materials costs
Conversion costs
Percent complete with respect to materials
Percent complete with respect to conversion
Units started into production during the month
Units transferred to the next department during the month
Materials costs added during the month
50%
10%
9,400
8,600
$ 196,300
$ 315,800
Conversion costs added during the month
Ending work in process inventory:
Units in ending work in process inventory
1,400
Percent complete with respect to materials
Percent complete with respect to conversion
70%
40%
The cost per equivalent unit for conversion costs for the first department for the month is closest to:

Multiple Choice
$19.45
$34.73
$21.76
$24.38

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