EX 20-14 Cost per equivalent unit OBJ. 2 The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conver- sion costs are incurred evenly throughout the process. The beginning inventory consists of $9,000 of direct materials. ACCOUNT Work in Process-Forging Department Date Item Nov. 1 Bal., 900 units, 60% completed Direct materials, 12,900 units Direct labor 30 30 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed Debit 123,840 21,650 16,870 Credit ACCOUNT NO. Balance Debit 10,566 134,406 156,056 172,926 ? ? Credit a. Determine the number of units transferred to the next department. b. Determine the costs per equivalent unit of direct materials and conversion. c. Determine the cost of units started and completed in November.
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.
![M Gn
Photos
>
Library
Memories
People
Places
Albums
>
Favorites
Recents
Imports
Recently Deleted
Media Types
Shared Albums
My Albums
Projects
My Projects
wwwww
<
cannot import photos from
Habbolab
<
✔a. 12,400 units
SHOW
ME HOW
2002 SS 2
000 CP12
perib rol t
1121
NOV
20
nol simb antwollet srb asblv ACCOUNT Work in Process-Forging Department, gainont
song srl to gningu
atom linhar smu un
Debit
0X2
0252
O
EX 20-14 Cost per equivalent unit
Home
November 20, 2022 at 2:29:58 PM 3,030 of 3,030
OBJ. 2
The following information concerns production in the Forging Department for November.
All direct materials are placed into the process at the beginning of production, and conver-
sion costs are incurred evenly throughout the process. The beginning inventory consists of
$9,000 of direct materials.
Date
Rugta gaiub hade boos
Nov. 1
30
30
280
Item 21 tinu00b1f
Bal., 900 units, 60% completed
Direct materials, 12,900 units
Direct labor
Factory overhead
Goods transferred, 2 units
30
30
30 Bal., 1,400 units, 70% completed
why doesn t iphoto import all
36
8
123,840
21,650
16,870
PAGES
ACCOUNT NOX
Credit
ACCOUNT NO.
a. Determine the number of units transferred to the next department.
ab. Determine the costs per equivalent unit of direct materials and conversion.
boulb tot fauc. Determine the cost of units started and completed in November.
Balance
Debit
10,566
134,406
156,056
172,926
?
?
Credit
IT NG
tv A
O
Edit
Ⓒ
1](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2d4673c9-a386-4de8-808d-cb4ac764b0e4%2F76e2479b-020f-4fd5-a780-5bfb3d861b97%2Fl6iiksl_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Sorry, to bother you but I am not sure where you came up with these numbers. They don't seem to be the same numbers in the question. I guess I am just really confused. Thank you for your help.
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)