Calculate the average cost per equivalent unit

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Reference no: EM13157934

A company uses a process cost accounting system and the weighted-average method. The following information is available for its current year:

Goods in process, January 1,2008 5,500 units, 80% complete
Goods in process, December 31, 2008 8,800 units, 40% complete
Units completed and transferred to finished goods 46,900 units
Manufacturing costs during the year $266,300

a. Calculate the equivalent units of production for the year.
b. Calculate the average cost per equivalent unit (round to the nearest cent).

Reference no: EM13157934

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