Dodd Corporation uses the weighted-average method in Its process costing system.

Question

Dodd Corporation uses the weighted-average method in Its process costing system. This month, the beginning inventory in the first processing department consisted of 560 units. The costs and percentage completion of these units in beginning inventory were: Cost $6,500 $5,500 Percent Complete Materials costs Conversion costs 65% 25% A total of 8,700 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: Materials costs Conversion costs $136,500 $322,500 The ending inventory was 90% complete with respect to materials and 85% complete with respect to conversion costs. Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computatlons to at least three decimal places. The cost per equivalent unit for materials for the month in the first processing department is closest to: O $15.44 O $14.74 O $14.98 $15.69

Explanation / Answer

Beginning work in process 560 Completed & transferred 7,800 Started during the year 8,700 ending work in process 1,460 units to be accounted 9260 units accounted for 9,260 Equivalent units Materials % units Completed & transferred 7,800 100% 7800 ending work in process 1,460 90% 1314 Equivalent units for materials 9114 cost per unit for materials Materials beginning work in process 6,500 cost added during the year 136,500 total cost 143,000 Equivalent units 9,114 cost per unit for materials 15.690 Answer $15.69

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