Larner Company Uses the Weighted-Average Method in Its Process Costing

question 9

Multiple Choice

Larner 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 $68,064 at the beginning of June.Additional conversion costs of $585,324 were incurred in the department during the month. What was the cost per equivalent unit for conversion costs for the month? (Round your answers to three decimal places. )

• A) $5.575.
• B) $6.806.
• C) $6.892.
• D) $7.090.

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Definitions:

Legally Obligated

Bound by law to perform a particular action or adhere to a set of rules or outcomes.

Basic Need

Fundamental requirements that sustain human life, such as food, water, shelter, and safety.

Shelter

A structure or place providing protection from weather, danger, or discomfort; it can also refer to organizations offering refuge to the homeless or abused.

Emancipated Minor

A person under the age of majority who is granted most adult rights through a legal process, including the ability to enter contracts and make healthcare decisions.