Parmentier company uses the weighted

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Reference no: EM13951982

Parmentier 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

4,500

80%

  Transferred in from the prior department during January

56,100

 

  Completed and transferred to the next department during January

54,000

 

  Ending work in process industry

6,600

20%

The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $8,696 and a total of $97,668 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.)

$2.416

$1.741

$1.923

$1.583

Reference no: EM13951982

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