Subject: Cost 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 $2.80 and $0.70, respectively. The equivalent unitsto be assigned costs are as follows:Inventory in process, October 1Started and completed during OctoberTransferred out of Rolling (completed)Inventory in process, October 31Total units to be assigned costsEquivalent UnitsDirect Materials049,00049,0005,00054,000$Equivalent UnitsConversion2,00049,00051,0002,00053,000The beginning work in process inventory on October 1 had a cost of $1,220. Determine the cost of completed and transferred-out production, the ending work in processinventory, and the total costs assigned by the Rolling Department.Completed and transferred-out productionInventory in process, October 31Total costs assigned by the Rolling Department

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Description: Subject: Cost 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 $2.80 and $0.70, respectively. The equivalent unitsto be assigned

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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 $2.80 and $0.70, respectively. The equivalent unit to be assigned costs are as follows: Equivalent Units Direct Materials 0 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 The beginning work in process inventory on October 1 had a cost of $1,220. 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 49,000 49,000 5,000 54,000 Equivalent Units Conversion 2,000 49,000 51,000 2,000 53,000 $

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 $2.80 and $0.70, respectively. The equivalent unit to be assigned costs are as follows: Equivalent Units Direct Materials 0 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 The beginning work in process inventory on October 1 had a cost of $1,220. 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 49,000 49,000 5,000 54,000 Equivalent Units Conversion 2,000 49,000 51,000 2,000 53,000 $

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 6BE: The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus...

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