Homework Answers
a) Equivalent unit = 3600+(600*70%) = 4020
Cost per equivalent unit = 104520/4020 = 26
b) Cost of units transferred out = 3600*26 = 93600
c) Cost of units in ending WIP = 600*70%*26 = 10920
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Tess Appendix The fo VA. $26.00 FX 17-26 Cost per equivalent unit: average cost method The...
Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Department...
Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit April 1 Bal., 3,800 units, 30% completed 14,520 30 Direct materials, 87,800 units 535,580 550,100 30 Direct labor 224,900 775,000 123,400 898,400 30 Factory overhead Goods transferred, 87,200 30 units ? ? Bal., 4,400 units, 60% 30 ? completed a....
Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Departme...
Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method. ACCOUNT Work In Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit April 1 Bal., 2,300 units, 10% completed 9,852 30 Direct materials, 53,100 units 350,460 360,312 30 Direct labor 151,900 512,212 30 Factory overhead 83,300 595,512 30 Goods transferred, 52,800 units 30 Bal., 2,600 units, 90% completed a. Determine the cost...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $9,000 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 900 units, 60% completed 10,566 30 Direct materials, 12,900 units 123,840 134,406 30 Direct labor 21,650 156,056...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $43,050 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 3,500 units, 60% completed 51,030 30 Direct materials, 32,000 units 387,200 438,230 30 Direct labor 52,870 491,100...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $93,840 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 6,900 units, 40% completed 104,052 30 Direct materials, 63,000 units 837,900 941,952 30 Direct labor 104,520 1,046,472...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $50,040 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 3,600 units, 80% completed 60,120 30 Direct materials, 33,000 units 452,100 512,220 30 Direct labor 50,550 562,770...
Explain how to get cost per equivalent unit of conversion and units started and completed in...
Explain how to get cost per equivalent unit of conversion and
units started and completed in November. FIFO method
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $53,550 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov....
Appendix EX 17-24 Equivalent units of production: average cost method A. 3,100 The following information concerns...
Appendix EX 17-24 Equivalent units of production: average cost method A. 3,100 The following information concerns production in the Finishing Depart ment for May. The Finishing Department uses the average cost method. ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit May | 1 | 31 Direct materials, 23,600 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 24,700 units 31 | Bal, units, 30% completed Bal., 4,200 units, 70% completed 36,500 162,300 237,700...
Appendix PR 17-5A Cost of production report: average cost method er equivalent Sunrise Coffee Company roasts...
Appendix PR 17-5A Cost of production report: average cost method er equivalent Sunrise Coffee Company roasts and packs coffee beans. The process begins in unit, $2.70 ment. From the Roasting Department, the coffee beans are transferred to the The following is a partial work in process account of the Roasting Departme ACCOUNT Work in Process-Roasting Department begins in the Roasting Depart ed to the Packing Department. e Department at December 31: ACCOUNT NO. Balance Debit Credit EXCEL TEMPLATE Debit Credit...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $66,330 of direct materials. ACCOUNT Work in ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Ba, 6,700 units, 40% completed 30 Direct materials, 61,000 units 30 Direct labor 30 Factory overhead 30 Goods finished, 2...
Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit April 1 Bal., 3,800 units, 30% completed 14,520 30 Direct materials, 87,800 units 535,580 550,100 30 Direct labor 224,900 775,000 123,400 898,400 30 Factory overhead Goods transferred, 87,200 30 units ? ? Bal., 4,400 units, 60% 30 ? completed a....
Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method. ACCOUNT Work In Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit April 1 Bal., 2,300 units, 10% completed 9,852 30 Direct materials, 53,100 units 350,460 360,312 30 Direct labor 151,900 512,212 30 Factory overhead 83,300 595,512 30 Goods transferred, 52,800 units 30 Bal., 2,600 units, 90% completed a. Determine the cost...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $9,000 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 900 units, 60% completed 10,566 30 Direct materials, 12,900 units 123,840 134,406 30 Direct labor 21,650 156,056...
Explain how to get cost per equivalent unit of conversion and
units started and completed in November. FIFO method
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $53,550 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov....
Appendix EX 17-24 Equivalent units of production: average cost method A. 3,100 The following information concerns production in the Finishing Depart ment for May. The Finishing Department uses the average cost method. ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit May | 1 | 31 Direct materials, 23,600 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 24,700 units 31 | Bal, units, 30% completed Bal., 4,200 units, 70% completed 36,500 162,300 237,700...
Appendix PR 17-5A Cost of production report: average cost method er equivalent Sunrise Coffee Company roasts and packs coffee beans. The process begins in unit, $2.70 ment. From the Roasting Department, the coffee beans are transferred to the The following is a partial work in process account of the Roasting Departme ACCOUNT Work in Process-Roasting Department begins in the Roasting Depart ed to the Packing Department. e Department at December 31: ACCOUNT NO. Balance Debit Credit EXCEL TEMPLATE Debit Credit...
Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $66,330 of direct materials. ACCOUNT Work in ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Ba, 6,700 units, 40% completed 30 Direct materials, 61,000 units 30 Direct labor 30 Factory overhead 30 Goods finished, 2...
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