Conversion costs were incurred in the department

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Reference no: EM131032819

Paquet Company uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January.

	Units	Percent Complete with Respect to Conversion
Beginning work in process inventory	7,700	40%
Transferred in from the prior
department during January	56,000
Completed and transferred to the next
department during January	58,400
Ending work in process inventory	5,300	90%

The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $16,940 and a total of $347,320 in conversion costs were incurred in the department during January.

What was the cost per equivalent unit for conversion costs for January in the Molding Department? (Round off to three decimal places.)

Reference no: EM131032819

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