Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were:
A total of 6,800 units were started and 6,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs.
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
-The cost per equivalent unit for materials for the month in the first processing department is closest to:
Definitions:
Median
The middle value in a data set when the values are arranged in order, or average of the two middle values when there is an even number of observations.
Mean
The average value of a set of numbers, calculated by adding all the numbers together and dividing by the count of the numbers.
Categorical Data
Data that can be divided into specific groups or categories based on qualitative characteristics.
Variances
A measure of the dispersion indicating how far individual numbers in a dataset are from the mean.
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