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 $9,000 of direct materials. ACCOUNT Work in Process-Forging Department Date Item Nov. 1 Bal., 900 units, 60% completed 30 Direct materials, 12,900 units 30 Direct labor Debit 123,840 21,650 16,870 Credit ? ACCOUNT NO. c. Determine the cost of units started and completed in November. 144,900 Debit Balance 10,566 134,406 156,056 172,926 ? 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed a. Determine the number of units transferred to the next department. 12,400 units 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 12,900 12,840 ? Credit

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 $9,000 of direct materials. ACCOUNT Work in Process-Forging Department Date Item Nov. 1 Bal., 900 units, 60% completed 30 Direct materials, 12,900 units 30 Direct labor Debit 123,840 21,650 16,870 Credit ? ACCOUNT NO. c. Determine the cost of units started and completed in November. 144,900 Debit Balance 10,566 134,406 156,056 172,926 ? 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed a. Determine the number of units transferred to the next department. 12,400 units 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 12,900 12,840 ? Credit

Name: a. Determine the number of units transferred to the next department.
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Description: a. Determine the number of units transferred to the next department. units b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalentunit of direct materia

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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