Question

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 32,000 units were started. At the end of the month all started units were 55% complete with respect to conversion. Direct Materials placed into production had a total cost of $335,000 and the total conversion cost for the month was $338,000. Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of direct material for the month of March. (Round answer to the nearest cent.)

Answer 1

		Direct Materials		Conversion
Units Completed	0	100%	0	100%	0
Ending WIP	32000	100%	32000	55%	17600
Equivalent Units	32000		32000		17600
Cost			$       3,35,000.00		$ 3,38,000.00
Equivalent Units			32000		17600
cost per equivalent unit			$                   10.47		$             19.20

cost per equivalent unit of direct material for the month of March =$ 10.47