Reid Corporation uses a process costing system in which units go through several departments. In the Cutting Department for June, units in the beginning work in process inventory were 80% complete with respect to conversion costs. Units in the ending work in process inventory were 25% complete with respect to conversion costs. Other data for the department for June are as follows: Assuming that the company uses the weighted-average method, the cost per equivalent unit for conversion costs for June is closest to:
A)$1.64
B)$1.56
C)$1.74
D)$1.48

Question

Reid Corporation uses a process costing system in which units go through several departments. In the Cutting Department for June, units in the beginning work in process inventory were 80% complete with respect to conversion costs. Units in the ending work in process inventory were 25% complete with respect to conversion costs. Other data for the department for June are as follows:  Assuming that the company uses the weighted-average method, the cost per equivalent unit for conversion costs for June is closest to:
A)$1.64 
B)$1.56 
C)$1.74 
D)$1.48

Quizplus · Accepted Answer

The Answer of Reid Corporation uses a process costing system in which units go through several departments. In the Cutting Department for June, units in the beginning work in process inventory were 80% complete with respect to conversion costs. Units in the ending work in process inventory were 25% complete with respect to conversion costs. Other data for the department for June are as follows:  Assuming that the company uses the weighted-average method, the cost per equivalent unit for conversion costs for June is closest to:
A)$1.64 
B)$1.56 
C)$1.74 
D)$1.48

Reid Corporation Uses a Process Costing System in Which Units