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 $1.70 and $2.40, respectively. The equivalent unitsto be assigned costs are as follows:Equivalent UnitsDirect Materials0Inventory in process, October 1Started and completed during OctoberTransferred out of Rolling (completed)Inventory in process, October 31Total units to be assigned costs72,000The beginning work in process inventory on October 1 had a cost of $2,900. 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 Department65,00065,0007,000Equivalent UnitsConversion4,60065,00069,600S2,80072,400

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Description: 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 $1.70 and $2.40, respectively. The equivalent unitsto be assigned costs ar

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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 $1.70 and $2.40, 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 Equivalent Units Direct Materials 0 Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 65,000 Equivalent Units Conversion 4,600 65,000 69,600 2,800 72,400 65,000 7,000 72,000 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $2,900. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the 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 $1.70 and $2.40, 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 Equivalent Units Direct Materials 0 Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 65,000 Equivalent Units Conversion 4,600 65,000 69,600 2,800 72,400 65,000 7,000 72,000 Total units to be assigned costs The beginning work in process inventory on October 1 had a cost of $2,900. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department.

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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