Larner 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: According to the company's records, the conversion cost in beginning work in process inventory was $68,064 at the beginning of June. Additional conversion costs of $585,324 were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:
A)$6.892
B)$6.806
C)$5.575
D)$7.090

Question

Larner 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:  According to the company's records, the conversion cost in beginning work in process inventory was $68,064 at the beginning of June. Additional conversion costs of $585,324 were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:
A)$6.892 
B)$6.806 
C)$5.575 
D)$7.090

Quizplus · Accepted Answer

The Answer of Larner 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:  According to the company's records, the conversion cost in beginning work in process inventory was $68,064 at the beginning of June. Additional conversion costs of $585,324 were incurred in the department during the month. The cost per equivalent unit for conversion costs for the month is closest to:
A)$6.892 
B)$6.806 
C)$5.575 
D)$7.090

Larner Corporation Uses the Weighted-Average Method in Its Process Costing