Limber 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: According to the company's records, the conversion cost in beginning work in process inventory was $15,264 at the beginning of June. Additional conversion costs of $68,208 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.)

Limber 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:

                                                      Unit            % of completion  

Beginning working in progress    18,000              80%

Started into production             81,000

Ending working progress               17,000            * 80%

According to the company's records, the conversion cost in beginning work in process inventory was $15,264 at the beginning of June. Additional conversion costs of $68,208 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.)

cost per equivalent unit for conversion costs = $0.873

Explanation:

Completed units= opening inventory + started unit - closing inventory

= 18000 + 81,000 - 17,000 = 82 ,000 units

Item                       units                                          Equivalent unit

Completed units   82,000          100% × 82,000 = 82,000

Production             17,000           80% ×17,000  =   13600

Total equivalent unit                                               95,600

Cost per equivalent unit= total conversion cost / total equivalent units

=  ($15,264 + $68,208)/95,600  units =  $0.873

cost per equivalent unit for conversion costs=$0.873

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