Required information [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 12,300 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Units Direct Materials Beginning work in process inventory Units started this period 3,200 75% Percent Complete for Percent Complete for Conversion 25% 12,300 Units completed and transferred out 10,200 Ending work in process inventory 5,300 90% 40% Cost of beginning work in process Direct materials $ 1,143 Conversion Costs added this month Direct materials Conversion 624 $1,767 13,827 17,856 31,683 alculate the Assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the IFO method. Cost per equivalent unit of production-FIFO
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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Required information
[The following information applies to the questions displayed below.]
Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 12,300
units during November. The following production activity in both units and costs refers to the Assembly department's
November activities.
Assembly Department
Units
Beginning work in process inventory
Units started this period
3,200
75%
Percent
Complete for
Direct
Materials
Percent
Complete for
Conversion
25%
12,300
Units completed and transferred out
10,200
Ending work in process inventory
5,300
90%
40%
Cost of beginning work in process
Direct materials
$ 1,143
624
$ 1,767
Conversion
Costs added this month
Direct materials
Conversion
13,827
17,856
31,683
Calculate the Assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the
FIFO method.
Direct Materials
Conversion
Cost per equivalent unit of production-FIFO
Numerator:
Denominator:
Cost per equivalent unit of production
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