The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $91,140 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Balance Debit Credit Date Item June 1 Bal., 9,300 units, 30% completed 30 Direct materials, 85,000 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 7,400 units, 60% completed Debit Credit 807,500 115,290 159,215 ? 99,510 907,010 1,022,300 1,181,515 a. Determine the number of units transferred to the next department. units c. Determine the cost of units started and completed in June. ? ? b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials: Cost per equivalent unit of conversion $

The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $91,140 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Balance Debit Credit Date Item June 1 Bal., 9,300 units, 30% completed 30 Direct materials, 85,000 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 7,400 units, 60% completed Debit Credit 807,500 115,290 159,215 ? 99,510 907,010 1,022,300 1,181,515 a. Determine the number of units transferred to the next department. units c. Determine the cost of units started and completed in June. ? ? b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials: Cost per equivalent unit of conversion $

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Description: The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning ofproduction, and conversion costs are incurred evenly throughout the process. The beginning inventor

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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Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 12,200 units during November. The following production activity in both units and costs refers to the Assembly department's November activities. Assembly Department Beginning work in process inventory. Units started this period Units completed and transferred out Ending work in process inventory Cost of beginning work in process Direct materials Conversion Costs added this month Direct materials Conversion Cost per Equivalent Unit of Production Costs added this period Costs of beginning work in process Total costs + Equivalent units of production Cost per equivalent unit of production Units 3,000 12,200 10,000 5,200 Direct Materials $ Percent. Complete for Direct Materials 70% $ 1,484 804 12,936 16,926 85% Calculate the Assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the weighted average method. 1,484 1,484 $ $ 2,288…
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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 conversion costs are incurred evenly throughout the process. The beginning inventory consists of $82,770 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 8,900 units, 50% completed 98,790 30 Direct materials, 81,000 units 729,000 827,790 30 Direct labor 130,580 958,370 30 Factory overhead 180,331 ? 1,138,701 ? 30 Goods finished, ? units ? 30 Bal., 7,100 units, 80% completed
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