Cost per Equivalent Unit The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $97,760 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Balance Debit Credit Date Item June 1 Bal., 9,400 units, 60% completed 30 Direct materials, 86,000 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 7,500 units, 70% completed Debit 877,200 84,530 116,743 Credit ? 110,168 987,368 1,071,898 1,188,641 a. Determine the number of units transferred to the next department. units ? b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials s Cost per equivalent unit of conversion $ c. Determine the cost of units started and completed in June.

Cost per Equivalent Unit The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $97,760 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Balance Debit Credit Date Item June 1 Bal., 9,400 units, 60% completed 30 Direct materials, 86,000 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 7,500 units, 70% completed Debit 877,200 84,530 116,743 Credit ? 110,168 987,368 1,071,898 1,188,641 a. Determine the number of units transferred to the next department. units ? b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials s Cost per equivalent unit of conversion $ c. Determine the cost of units started and completed in June.

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Description: Cost per Equivalent UnitThe following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, andconversion costs are incurred evenly throughout the process

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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