Holling Inc. uses the weighted-average method in its process costing. The following data concern the company's Mixing Department for the month of December. MaterialsConversionWork in process, December 1$7,530$8,528Cost added to production in the Mixing Department during December$225,900$283,632Equivalent units of production for December 9,300 8,800 Required:Compute the cost per equivalent unit for materials and conversion for the Mixing Department in December.
What will be an ideal response?
Weighted-average method:
| Materials | Conversion | |||
| Cost of beginning work in process inventory | $ | 7,530 | $ | 8,528 |
| Costs added during the period | 225,900 | 283,632 | ||
| Total cost (a) | $ | 233,430 | $ | 292,160 |
| Equivalent units of production (b) | 9,300 | 8,800 | ||
| Cost per equivalent unit (a) ÷ (b) | $ | 25.10 | $ | 33.20 |
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