Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 800 Materials costs$12,900 Conversion costs$5,000 Percent complete with respect to materials 75%Percent complete with respect to conversion 20%Units started into production during the month 9,500 Units transferred to the next department during the month 8,400 Materials costs added during the month$172,000 Conversion costs added during the month$240,200 Ending work in process inventory: Units in ending work in process inventory 1,900 Percent complete with respect to materials 90%Percent complete with
respect to conversion 30% The cost per equivalent unit for materials for the month in the first processing department is closest to:
A. $16.70
B. $17.01
C. $17.95
D. $18.29
Answer: D
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