Refining Department, beginning balance at January 1, 2012
Quantity: 2,000 units (partially processed.
Cost: $15,600 of costs transferred in
$1,900 of materials cost
$4,500 of conversion cost
$22,000 total account balance
Costs added during January
Cost of units transferred in: $222,400
Direct materials cost $45,000
Conversion cost $93,750
Refining Department, ending balance at January 31, 2012
Quantity: 5,000 units (partially processed.
% completion for materials cost: 90%
% completion for conversion cost: 75%
What was the cost per equivalent unit with respect to direct materials costs for the Refining Department in the month of January? Use the weighted-average method. (Round off your calculations to the nearest cent.)