Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All...

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Cost per Equivalent Unit The following information concerns production in the Forging Department for November. All direct mat

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Answer 1

Answer #1

a) Ending work in process = 6700+61000-5400 = 62300 Units

b) Equivalent unit of material = (6700*0%+55600*100%+5400*100%) = 61000

Equivalent unit of conversion = (6700*60%+55600*100%+5400*60%) = 62860

Cost per equivalent unit of material = 591700/61000 = 9.7

Cost per equivalent unit of conversion = (76560+105734)/62860 = 2.9

c) Cost of unit started and completed = 12.6*55600 = $700560

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Answer 2

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