Lanjan Corporation uses the weighted-average method in its process costing syste

Question

Lanjan Corporation uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

According to the company’s records, the conversion cost in beginning work in process inventory was $92,218 at the beginning of June. Additional conversion costs of $571,618 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round off to three decimal places.)

$9.410

$7.521

$5.954

$9.220

Units Percent Complete with
Respect to Conversion Beginning work in process inventory 14,000 50 % Started into production during June 76,000 Ending work in process inventory 20,800 10 %

Explanation / Answer

as per given question answer is $9.313 only. but this answer not there in options. please recheck question once again if any mistakes are there or not while typing here

Actual % of completion Equivalent units Number of units finished and transferred (14,000+76,000-20,800)    69,200 100%                     69,200 Ending work in process    20,800 10%                       2,080 Total equivalent units                     71,280

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