Reference no: EM132634428

Gunes Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,200 units. The costs and percentage completion of these units in beginning inventory were:

                                   Cost                Percent

Complete

Materials costs      $11,000               65%

Conversion costs     $13,200                30%

A total of 8,900 units were started and 7,800 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:

Cost

Materials costs $142,500

Conversion costs $359,900

• The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs.

Problem 1: The cost per equivalent unit for materials for the month in the first processing department is closest to:

Multiple Choice

Option 1: $17.15

Option 2: $15.22

Option 3: $14.08

Option 4: $15.82