Use the following information for the Quick Study below. (Algo) [The following information applies to the questions displayed below.] Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 10,700 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 of beginning work in process Costs added this period Total costs Units + Equivalent units of production Cost per equivalent unit of production 3,000 10,700 10,000 3,700 Percent Complete for Direct Materials 70% Direct Materials $ 977 779 12,353 21,441 90% Percent Complete for Conversion 30% QS 16-11 (Algo) Weighted average: Cost per EUP LO P1 Calculate the Assembly department's cost per equivalent unit of production for materials and for conversion for November. Use the weighted average method. Conversion $ 1,756 33,794 30%
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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![Use the following information for the Quick Study below. (Algo)
[The following information applies to the questions displayed below.]
Carlberg Company has two manufacturing departments, Assembly and Painting. The
Assembly department started 10,700 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 of beginning work in process
Costs added this period
Total costs
Units
+ Equivalent units of production
Cost per equivalent unit of production
3,000
10,700
10,000
3,700
Percent
Complete for
Direct
Materials
70%
Direct Materials
$977
779
12,353
21,441
90%
Percent
Complete for
Conversion
30%
QS 16-11 (Algo) Weighted average: Cost per EUP LO P1
Calculate the Assembly department's cost per equivalent unit of production for materials and for
conversion for November. Use the weighted average method.
Conversion
$1,756
33,794
30%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbddb4cdf-9551-45b9-bc52-bfc5a12ad6b5%2F37bfd832-4c29-46ae-81d3-6b3b92329074%2F28eriye_processed.jpeg&w=3840&q=75)
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