The cost of direct materials transferred into the Rolling Department of Jabari Company is $3,013,500. The conversion cost for the period in the Rolling Department is $137,800. The total equivalent units for direct materials and conversion are 4,100 tons and 1,060 tons, respectively. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
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.
![Determine the direct materials and conversion costs per equivalent unit.
Direct materials cost per equivalent unit: s
Conversion cost per equivalent unit: $
per ton
per ton](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fedbd7ab4-1897-4b6c-a9d0-8d3a29df9edb%2F64508f15-5bf2-4931-8fee-41ad6f7399b5%2Fc27lewc_processed.png&w=3840&q=75)
![The cost of direct materials transferred into the Rolling Department of Jabari Company is
$3,013,500. The conversion cost for the period in the Rolling Department is $137,800. The
total equivalent units for direct materials and conversion are 4,100 tons and 1,060 tons,
respectively.
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet,
perform the required analysis, and input your answers in the questions below.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fedbd7ab4-1897-4b6c-a9d0-8d3a29df9edb%2F64508f15-5bf2-4931-8fee-41ad6f7399b5%2Fye3n9xr_processed.png&w=3840&q=75)
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