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Question - Pilot Protectors manufactures pocket knives in three processes and uses process costing. All materials are added at the start of the Forming Department process. The following information is available for March production for the Forming Department:
Beginning Work in Process (20% complete) 2,000
Plus: Units started 34,000
Units to account for 36,000
Less: Ending Work in Process (70% complete) 4,000
Units completed 32,000
The following costs are available for March:
Material
Conversion Cost
Total Cost
Beginning Work in Process
$11,800
$22,500
$34,300
Current cost
65,600
64,500
130,100
Total cost
$77,400
$87,000
$164,400
Required - What is the cost per equivalent unit for materials during March using the Weighted Average Method?
a. $2.15
b. $2.50
c. $2.22
d. $4.72
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