Paceheco Corporation uses the weighted-average method in its process costing system. The Molding Department is the second department in its production process. The data below summarize the department's operations in January.
Units % complete
Beginning work in process inventory 5,100 70 %
Transferred in from the prior department during January 59,000
Completed and transferred to the next department during January 56,800 Ending work in process inventory 7,300 40 % The accounting records indicate that the conversion cost that had been assigned to beginning work in process inventory was $34,558 and a total of $559,254 in conversion costs were incurred in the department during January. The cost per equivalent unit for conversion costs for January in the Molding Department is closest to:
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