The following cost information is available for July for the Crest Plant at Calvert Company:...
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Accounting
The following cost information is available for July for the Crest Plant at Calvert Company: Materials are added at the beginning of the process. The following quantitie have been recorded: - Beginning inventory, 43,000 partially complete gallons, 55 percent complete with respect to conversion costs. - Units started in July, 83,000 gallons. - Units transferred out in July, 93,000 gallons. - Ending inventory, 33,000 gallons, 70 percent complete with respect to conversion costs. Required: Compute the cost per equivalent unit for direct materials and conversion costs for July using the weighted-average method. Note: Round your answers to 2 decimal places
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