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Managerial Accounting

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Fuller Chocolate Process Costing: Weighted Average

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Fuller Chocolate makes chocolate pellets in large batches for use in chocolate-making crafts and home baking and sells them by the two pound box. The direct materials for these pellets are added at the start of the process. The conversion costs are added evenly throughout production. The details for the most recent period include:

$\text{Beginning inventory: 20,000 boxes(70% complete)}$
$\text{Started during period: 840,000 boxes}$
$\text{Completed boxes: 760,000}$
$\text{Ending boxes are 50% complete}$
$\text{Costs in beginning units: \$62,000; \$38,000 for conversion costs}$
$\text{Costs for the period: \$2,604,000 for materials; \$2,157,100 for conversion costs}$

If they use weighted average method, what is the cost per pellet for last period?

Enter your response rounded to two decimal places without a dollar sign. For instance, enter 4.57 rather than \$4.5711.