ost of Units Transferred Out and Ending Work in Process he costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari S he equivalent units to be assigned costs are as follows: mventory in process, October 1 tarted and completed during October Transferred out of Rolling (completed) mventory in process, October 31 Equivalent Units Direct Materials 0 39,000 39,000 2,000 41.000 Equivalent Units Conversion 2,000 39,000 41,000 1,000 42.000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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 $2.55 and $1.35, respectively.
The equivalent units to be assigned costs are as follows:
Equivalent Units
Direct Materials
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 $1,300. 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
0
39,000
39,000
2,000
41,000
$
$
Equivalent Units
Conversion
2,000
39,000
41,000
1,000
42,000
X
X
X
Transcribed Image Text: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 $2.55 and $1.35, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials 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 $1,300. 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 0 39,000 39,000 2,000 41,000 $ $ Equivalent Units Conversion 2,000 39,000 41,000 1,000 42,000 X X X
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