There was no beginning nversion cost. All materia 10, and factory overhead
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.
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Costs per Equivalent Unit
Georgia Products Inc. completed and transferred 226,000 particle board units of production from the Pressing Department. There was no beginning
inventory in process in the department. The ending in-process inventory was 20,000 units, which were 3/5 complete as to conversion cost. All materials
are added at the beginning of the process. Direct materials cost incurred was $701,100, direct labor cost incurred was $77,110, and factory overhead
applied was $18,090.
Determine the following for the Pressing Department., Round "cost per equivalent unit" answers to the nearest cent.
a. Total conversion cost
b. Conversion cost per equivalent unit
C. Direct materials cost per equivalent unit $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F60518c46-9a6d-435e-a91d-c372f77de598%2F31563500-5750-4590-809a-e8f2daaad097%2F4xpsgt_processed.jpeg&w=3840&q=75)
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