Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion Equivalent Units Direct Materials Inventory in process, October 1 0 56,000 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 56,000 4,000 60,000 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $2,260. 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. in the Rolling Department of Jabari Steel Company are $0.85 and $2.50, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Conversion 3,900 56,000 59,900 1,600 61,500

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion Equivalent Units Direct Materials Inventory in process, October 1 0 56,000 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 56,000 4,000 60,000 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $2,260. 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. in the Rolling Department of Jabari Steel Company are $0.85 and $2.50, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Conversion 3,900 56,000 59,900 1,600 61,500

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Description: Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversionEquivalent UnitsDirect MaterialsInventory in process, October 1Started and completed during OctoberTransferred out of Rolling (co

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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 Blackrock Steel Company are $45 and $12, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, beginning of period Started and completed during the period Transferred out of Rolling (completed) Inventory in process, end of period Total units to be assigned costs Equivalent Units Direct Materials Conversion 0 11,900 11,900 2,000 13,900 LA 640 LA 11,900 12,540 600 The beginning work in process inventory had a cost of $38,020. Determine the cost of completed and transferred-out production and the ending work in process inventory. Completed and transferred out of production Inventory in process, ending 13,140
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