Appendix EX 20-28 Cost per equivalent unit: average cost method The following information concerns production in the Forging Department for June. The Forging Department uses the average cost method. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit June 1 Bal., 500 units, 40% completed 5,000 30 Direct materials, 3,700 units 49,200 54,200 30 Direct labor 25,200 79,400 30 Factory overhead 25,120 104,520 30 Goods transferred, 3,600 units ? 30 Bal., 600 units, 70% completed ? a. Determine the cost per equivalent unit. b. Determine cost of units transferred to Finished Goods. Determine the cost of units in ending Work in Process
Appendix EX 20-28 Cost per equivalent unit: average cost method The following information concerns production in the Forging Department for June. The Forging Department uses the average cost method. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit June 1 Bal., 500 units, 40% completed 5,000 30 Direct materials, 3,700 units 49,200 54,200 30 Direct labor 25,200 79,400 30 Factory overhead 25,120 104,520 30 Goods transferred, 3,600 units ? 30 Bal., 600 units, 70% completed ? a. Determine the cost per equivalent unit. b. Determine cost of units transferred to Finished Goods. Determine the cost of units in ending Work in Process
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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