Question

can someone please help with this practice problem?

Inacio 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 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 Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 2,600 $ 14,700 $ 6,800 75% 20% 11,300 10,200 $ 173,800 $ 243,800 3,700 90% 30% The cost per equivalent unit for materials for the month in the first processing department is closest to:

Answer 1

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	Correct answer is $13.93
	Quantities			Equivalent Units
			Whole Units	Materials	Conversion Cost
	Units to be account for
	Work in Process, Beginning		2,600
	add:Started into production		11,300
	-Total Units		13,900
	Units accounted for
	Transferred out		10,200	10,200	10,200
	Work in Process, Ending		3,700	3,330	1,110
	Equivalent Units-Weighted Average		13,900	13,530	11,310
	Cost
				Materials	Convsersion Cost	Total
	Work in Process, Beginning			$     14,700	$                     6,800	$     21,500
	add:Started into production			$   173,800	$                243,800	$   417,600
	Total Cost to account for			$   188,500	$                250,600	$   439,100
	Equivalent Units			13,530	11,310
	Unit Cost	Total Cost/Equivalent Units		13.93	22.16	36.09