Saved Help Save &Exit Submit Ice Cream Corporation uses the weighted-avcrage met

Question

Saved Help Save &Exit Submit Ice Cream Corporation uses the weighted-avcrage method in its process costing system. Data concerming the first processing department for the most recent month are listed below. Beginning wok in proceas inventozy: Units in beginning work in process inventory 1,400 S 13,500 S 5, 600 75 Material: cost: Converaion costs Percent complete with respect to materials Percent cumplete with respect to cnversion Units atartad into productian during the nonth Units completed and transferred to the next department during the month Material costs added during the mothh convnr 1 on costs add d during th^ month Ending work in procass inventory: Units in ending work in process inventory 20% 10,100 9,000 S 172,600 S242, 600 2,500 Percent complete with respect to materials 90t 30% The cost per equivalernt unit for materials for the month in the first processing department is closest to: Multiple Choice $16 03 $15.09 $14.18 $16.51

Explanation / Answer

Equivalent unit of material = 9000+(2500*90%) = 11250

Total Cost = 13500+172600 = 186100

Cost per equivalent unit of material = 186100/11250 = $16.54

So answer is d) $16.54

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