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Cost per Equivalent Unit The cost of direct materials transferred into the Rolling Department of Kraus Company is $490,000. TCost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion inProcess Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Depar

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Answer #1

Answer-1:

Direct materials cost per equivalent units: $490,000 / 2,500 = $196.00

Conversion cost per equivalent unit: $280,600 / 4,600 = $61.00

Answer-2:

Completed and transferred out units:
Direct material (41,000 * $1.15) $             47,150
Conversion (42,600 * $2.90) $           123,540
$           170,690
Inventory in process, October 31
Direct material (5,000 * $1.15) $                5,750
Conversion (1,500 * $2.90) $                4,350
$             10,100
Total cost assigned by Rolling department:
Completed and transferred out units cost $           170,690
Inventory in process, October 31 cost $             10,100
$           180,790
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