Homework Answers
a) No of units transferred out = 900+12900-1400 = 12400 Units
b) Cost per equivalent unit of material = 123840/12900 = 9.60
Equivalent unit of conversion = (900*40%+11500+1400*70%) = 12840
Cost per equivalent unit of conversion = (21650+16870)/12840 = 3
c) Cost of unit started and completed = 12.60*11500 = 144900
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Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...
Costs per Equivalent Unit and Production Costs 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. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 900 units, 60% completed 10,566 30 Direct materials, 12,900 units 123,840 134,406 30 Direct...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...
Costs per Equivalent Unit and Production Costs 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. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 900 units, 60% completed 10,566 30 Direct materials, 12,900 units 123,840 134,406 30 Direct...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department f...
Costs per Equivalent Unit and Production Costs 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. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 900 units, 60% completed 10,566 30 Direct materials, 12,900 units 123,840 134,406 30 Direct...
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...
Costs per Equivalent Unit and Production Costs 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. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 900 units, 60% completed 10,566 30 Direct materials, 12,900 units 123,840 134,406 30 Direct...
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...
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 in The following information concerns production in the Forging Department for November. All di...
Cost per Equivalent in 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 th inventory consists of 143,050 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Duterem Credit Debit Credit Debit Now. 1 Bal 3.500 , 60completed 51.000 30 Direct materials, 32.000 units 387,200 20 Dec labor 52,870 30 Factory overhead 73,022 20 Goods finished units...
The following information concerns production in the Forging Department for November. All direct materials are placed...
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 $46,620 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 54,131 421,600 475,731 1 Bal., 3,700 units, 70% completed 30 Direct materials, 34,000 units 30 Direct labor 30 Factory overhead 30 Goods finished,...
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 in 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 th inventory consists of 143,050 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Duterem Credit Debit Credit Debit Now. 1 Bal 3.500 , 60completed 51.000 30 Direct materials, 32.000 units 387,200 20 Dec labor 52,870 30 Factory overhead 73,022 20 Goods finished units...
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 $46,620 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 54,131 421,600 475,731 1 Bal., 3,700 units, 70% completed 30 Direct materials, 34,000 units 30 Direct labor 30 Factory overhead 30 Goods finished,...
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