The following information about the work-in-process inventory pertains to the Remington Plant for the month...
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Accounting
The following information about the work-in-process inventory pertains to the Remington Plant for the month of July (all materials are added at the beginning of the process):
Materials
Conversion
Beginning work in process (29,000 units):
Percentage complete with respect to
100%
20%
Costs
$ 85,100
$ 20,136
Ending work in process (45,000 units):
Percentage complete with respect to
100%
60%
Costs
??
??
The Remington Plant started 219,000 units and transferred out 203,000 in July. Materials costs incurred in July were $624,000 and conversion costs were $1,009,000.
Required:
Compute the cost per equivalent unit for materials and conversion costs using the weighted-average method.
Note: Round your answers to 2 decimal places.
Answer & Explanation
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