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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 $9,00o0 of direct materials ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 Bal., 900 units, 60% completed Nov 10,566 134,406 30 Direct materials, 12,900 units 123,840 30 Direct labor 21,650 156,056 16,870 30 Factory overhead 172,926 30 Goods transferred,? units 30 Bal., 1,400 units, 70% completed Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required round your answers to two decimal places. Direct materials cost per equivalent unit Screenshot now Conversion cost per equivalent unit 3 X Screenshot taken

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 $9,00o0 of direct materials ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 Bal., 900 units, 60% completed Nov 10,566 134,406 30 Direct materials, 12,900 units 123,840 30 Direct labor 21,650 156,056 16,870 30 Factory overhead 172,926 30 Goods transferred,? units 30 Bal., 1,400 units, 70% completed Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required round your answers to two decimal places. Direct materials cost per equivalent unit Screenshot now Conversion cost per equivalent unit 3 X Screenshot taken

FINANCIAL ACCOUNTING
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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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 $9,00o0 of direct materials ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 Bal., 900 units, 60% completed Nov 10,566 134,406 30 Direct materials, 12,900 units 123,840 30 Direct labor 21,650 156,056 16,870 30 Factory overhead 172,926 30 Goods transferred,? units 30 Bal., 1,400 units, 70% completed Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar.
Transcribed Image Text: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 $9,00o0 of direct materials ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 Bal., 900 units, 60% completed Nov 10,566 134,406 30 Direct materials, 12,900 units 123,840 30 Direct labor 21,650 156,056 16,870 30 Factory overhead 172,926 30 Goods transferred,? units 30 Bal., 1,400 units, 70% completed Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar.
d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required round your answers to two decimal places. Direct materials cost per equivalent unit Screenshot now Conversion cost per equivalent unit 3 X Screenshot taken
Transcribed Image Text:d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required round your answers to two decimal places. Direct materials cost per equivalent unit Screenshot now Conversion cost per equivalent unit 3 X Screenshot taken
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