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.)