What is the cost per equivalent unit for conversion costs

Reference no: EM132708298

Question - Memphis Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were:

Materials cost $7,300, percentage complete 55%

Conversion Cost $2,100, percentage complete 10%

A total of 9,700 units were started and 9,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Material costs $237,000

Conversion Costs $376,000

The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.

Required - What is the cost per equivalent unit for conversion costs for the first department for the month?

Reference no: EM132708298

Questions Cloud

Draw operations strategy matrix : Draw operations strategy matrix for on campus student medical service.

Report on international management project : Report on International Management Project - examine current international management issues that challenge organizational leaders to resolve critical issues

What is the projects simple rate of return : Pigeon Company's discount rate is 20%. Advertising, salaries, and other fixed out-of-pocket costs $820,000. What is the projects simple rate of return

Is the space program still relevant : Is the space program still relevant? Is it worth the cost, considering the growing debt? How does the space program benefit the U.S. national economy in general

What is the cost per equivalent unit for conversion costs : This month, the beginning inventory in the first processing department consisted of 500 units. What is the cost per equivalent unit for conversion costs

How did politics and religion factor into the success : As civilizations expanded in all areas of the world, how did politics and religion factor into the success of the expansion an what made some civilizations grea

What was the amount of net sales for january : Analyze: Based on the beginning balance of the Sales Tax Payable account, what was the amount of net sales for January

What was the impact of muhammad death : How did Muhammad unite tribes? How far did Muslim spread? What was the appeal of Islam that caused it to grow so quickly.?

How many semiannual interest payments will be made : On the issue date, the annual market rate for the bonds is 8%. How many semiannual interest payments will be made on these bonds over their life

User Account

All Pages