1Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.30 and$1.85, respectively. The equivalent units to be assigned costs are as follows:Equivalent UnitsDirect Materials0Completed and transferred-out productionInventory in process, October 31Total costs assigned by the Rolling DepartmentEquivalent UnitsConversionInventory in process, October 1Started and completed during OctoberTransferred out of Rolling (completed)Inventory in process, October 31Total units to be assigned costs<The beginning work in process inventory on October 1 had a cost of $2,330. Determine the cost of completed and transferred-outproduction, the ending work in process inventory, and the total costs assigned by the Rolling Department.62,00062,0005,00067,0003,70062,00065,7002,50068,200G

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Description: 1Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.30 and$1.85, respectively. The equivalent units to be assigned costs a

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Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs Equivalent Units Equivalent Units Direct Materials Conversion 0 3,700 62,000 65,700 2,500 68,200 62,000 62,000 5,000 67,000 The beginning work in process inventory on October 1 had a cost of $2,330. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production. Inventory in process, October 31 Total costs assigned by the Rolling Department

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Total units to be assigned costs Equivalent Units Equivalent Units Direct Materials Conversion 0 3,700 62,000 65,700 2,500 68,200 62,000 62,000 5,000 67,000 The beginning work in process inventory on October 1 had a cost of $2,330. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production. Inventory in process, October 31 Total costs assigned by the Rolling Department

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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