In: Accounting
Pablo Company calculates the cost for an equivalent unit of production using process costing. Data for June Work-in-process inventory, June 1: 15,000 units Direct materials: 100% complete $ 30,000 Conversion: 40% complete 12,000 Balance in work-in-process, June 1 $ 42,000 Units started during June 37,000 Units completed and transferred out 37,000 Work-in-process inventory, June 30 15,000 Direct materials: 100% complete Conversion: 80% complete Costs incurred during June Direct materials $ 81,400 Conversion costs Direct labor 81,400 Applied overhead 111,000 Total conversion costs $ 192,400
Required: 1. Compute the cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 3 decimal places.)