Luft Company uses the weighted-average method in its process costing system. 1 answer below »
Luft Company uses the weighted-average method in its process costing system.
Operating data for the first processing department for the month of June appear below:
Units
Percent Complete with respect to Conversion
Beginning work in process inventory
11,000
90%
Started in production during June
58,000
Ending work in process inventory
17,000
10%
According to the company's records, the conversion cost in beginning work in process inventory was $79,893 at the beginning of June. Additional conversion costs of $343,830 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.)