Ire 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

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for materials for the month in the first processing department is closest to:
A)$10.50
B)$9.95
C)$10.89
D)$10.32

Question

Ire 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

Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for materials for the month in the first processing department is closest to:
A)$10.50 
B)$9.95 
C)$10.89 
D)$10.32

Quizplus · Accepted Answer

The cost per equivalent unit is calculated by dividing the total cost of materials by the equivalent units of production. Based on the given options, $10.89 is the closest estimate for the cost per equivalent unit for materials.

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