ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal, 1,200 units, 60% completed 30 Direct materials, 8,300 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2units 30 Bal, 900 units, 70% completed 20,856 145,356 124,500 18,950 20,196 164,306 184,502 The above information concerns production in theforging Department for November. All direct materials are placed in process at the beginning of production. De not use s or commas in your answers What is the Direct Materials Cost Per Equvalent Unit? What is the Conversion cost per equivalent unit? What is the cost of the beginning work in process completed during May? What is the cost of the ending work in process? What is the amount of the costs transfered to Finished Goods (or the next department?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ACCOUNT Work in Process-Forging Department
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Nov. 1 Bal, 1,200 units, 60% completed
30 Direct materials, 8,300 units
30 Direct labor
30 Factory overhead
30 Goods transferred, 2 units
30 Bal, 900 units, 70% completed
20,856
145,356
164,306
184,502
124,500
18,950
20,196
The above information concerns production in theforging Department for November. All direct materials are placed in process at the beginning of production. De not use S or commas in your answers
What is the Direct Materials Cost Per Equvalent Unit?
What is the Conversion cost per equivalent unit?
What is the cost of the beginning work in process completed during May?
What is the cost of the ending work in process?
What is the amount of the costs transfered to Finished Goods (or the next department?
Transcribed Image Text:ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal, 1,200 units, 60% completed 30 Direct materials, 8,300 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal, 900 units, 70% completed 20,856 145,356 164,306 184,502 124,500 18,950 20,196 The above information concerns production in theforging Department for November. All direct materials are placed in process at the beginning of production. De not use S or commas in your answers What is the Direct Materials Cost Per Equvalent Unit? What is the Conversion cost per equivalent unit? What is the cost of the beginning work in process completed during May? What is the cost of the ending work in process? What is the amount of the costs transfered to Finished Goods (or the next department?
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