Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
|
Beginning work in process inventory: |
800 |
|
Units in beginning work in process inventory |
$12,900 |
|
Materials costs . |
$5,000 |
|
Conversion costs |
75% |
|
Percentage complete with respect to materials |
20% |
|
Percentage complete with respect to conversion |
9,500 |
|
Units started into production during the month |
8,400 |
|
Units transferred to the next department during the month |
$172,000 |
|
Materials costs added during the month . |
$240,200 |
|
Ending work in process inventory: |
|
|
Units in ending work in process inventory |
1,900 |
|
Percentage complete with respect to materials |
90% |
|
Percentage complete with respect to conversion |
30% |
The cost per equivalent unit for materials for the month in the first processing department is closest to:
A) $17.01
B) $17.95
C) $16.70
D) $18.29