Owens Corporation uses a process costing system. For March, the beginning work in process inventory consisted of 60,000 units that were 60% complete with respect to processing. The ending work in process inventory for the month consisted of units that were 20% complete with respect to processing. A summary of unit and cost data for the month follows: UnitsProcessing CostWork-in-process inventory, March 160,000$35,000Units started into production and costs incurred during the month190,000$700,000Units completed and transferred out200,000 Assuming that Owens Corporation uses the weighted-average method, which of the following is closest to the cost per equivalent unit for processing cost for March?
A. $3.87
B. $3.68
C. $4.08
D. $3.50
Answer: D
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