Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department:
Units:Beginning Inventory: 90,000 units, 70% complete as to materials and 20% complete as to conversion. Units started and completed: 270,000.Units completed and transferred out: 360,000.Ending Inventory: 35,000 units, 40% complete as to materials and 15% complete as to conversion. Costs:Costs in beginning Work in Process - Direct Materials: $47,200.Costs in beginning Work in Process - Conversion: $89,700.Costs incurred in October - Direct Materials: $759,920.Costs incurred in October - Conversion: $929,300.Calculate the cost per equivalent unit of materials.
a. $2.80b. $2.50c. $2.04d. $2.36e. $2.16
Answers: 3
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Richards Corporation uses the weighted-average method of process costing. The following information...
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