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Debit Crec 50% completed 3,300 units 124,500 18,950 20,196 1, 2 units % completed

Debit Crec 50% completed 3,300 units 124,500 18,950 20,196 1, 2 units % completed

FINANCIAL ACCOUNTING
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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Please help me answer the following question in the picture I added
ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 1,200 units, 60% completed 30 Direct materials, 8,300 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 900 units, 70% completed 20,856 124,500 18,950 145,356 164,306 184,502 20,196 ? ? The above information concerns production in theForging Department for November. All direct materials are placed in process at the beginning of production. Do not use S or commas in your answers. What is the Direct Materials Cost Per Equvalent Unit? What is the Conversion cost per equivalent unit? What is the cost of the beginning work in process completed during May? What is the cost of the ending work in process? What is the amount of the costs transfered to Finished Goods (or the next department)?
Transcribed Image Text:ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 1,200 units, 60% completed 30 Direct materials, 8,300 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 900 units, 70% completed 20,856 124,500 18,950 145,356 164,306 184,502 20,196 ? ? The above information concerns production in theForging Department for November. All direct materials are placed in process at the beginning of production. Do not use S or commas in your answers. What is the Direct Materials Cost Per Equvalent Unit? What is the Conversion cost per equivalent unit? What is the cost of the beginning work in process completed during May? What is the cost of the ending work in process? What is the amount of the costs transfered to Finished Goods (or the next department)?
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