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- Date ACCOUNT Work in Process-Forging Department Nov. Item 1 Bal., 900 units, 60% completed 30 Direct materials, 12,900 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 1,400 units, 70% completed $ Debit 123,840 21,650 16,870 $ Credit ? ACCOUNT NO. Balance Debit Direct materials cost per equivalent unit Conversion cost per equivalent unit 10,566 134,406 156,056 172,926 ? Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. 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. a. Cost of beginning work in process inventory completed in November. Credit b. Cost of units transferred to the next department during November. $ c. Cost of ending work in process inventory on November 30. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in…Process Costing - Assembly Department - AUGUST Information regarding inventory production for the Assembly Department for Aug is as follows Direct Materials Costs in August for 71,100 Units Direct Labor Costs incurred in August Factory Overhead costs incurred in August Work completed in August: 69,300 units Ending Work in Progress, August 31:8,900 units, 60% completedRequired information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out. Ending work in process inventory Beginning work in process inventory Direct materials Units The production department had the cost information below. Conversion Costs added this period Direct materials Conversion Total costs to account for 60,000 322,000 300,000 82,000 $ 118,472 48,594 850,368 649,296 Direct Materials Conversion Percent Complete 60% 80% $ 167,066 1,499,664 $1,666,730 a. Compute cost per equivalent unit for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 40% 30%
- Units Direct Materials Conversion Percent Complete Percent Complete Beginning work in process inventory 60,000 60% 40% Units started this period 322,000 Completed and transferred out 300,000 Ending work in process inventory 82,000 80% 30% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method.Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.55 and $2.55, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 0 4,100 Started and completed during October 59,000 59,000 Transferred out of Rolling (completed) 59,000 63,100 Inventory in process, October 31 7,000 3,500 Total units to be assigned costs 66,000 66,600 The beginning work in process inventory on October 1 had a cost of $2,500. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling DepartmenttakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress3Dfalse Calculator A company started the month with 8,333 units in work in process inventory. It started 23,146 units and had an ending inventory of 9,322. The units were 100% complete to materials and 67% complete with conversion. How many units were transferred out during the period? Units transferred out Previous Next Email Instructor Submit Test for Grading All work saved. 5:18 PM 10/2/2020 arch O
- August 1 Bal., 7,800 units, 2/5 completed 31 Direct materials, 140,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 142,200 units 31 Bal., ? units, 2/5 completed Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total 238,680 63,380 35,656 a. Determine the number of units in work in process inventory at August 31. units 341,748 b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August Whole Units 7,800 15,912 254,592 317,972 353,628 11,880 11,880 0 Equivalent Units Equivalent Direct Materials Units Conversion 1,560Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $2.35 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Inventory in process, October 1 Started and completed during October Transferred out of Rolling (completed) Inventory in process, October 31 Equivalent Units Direct Materials 0 Equivalent Units Conversion 3,200 54,000 54,000 54,000 7,000 Total units to be assigned costs 61,000 The beginning work in process inventory on October 1 had a cost of $2,080. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department. Completed and transferred-out production Inventory in process, October 31 Total costs assigned by the Rolling Department 57,200 2,100 59,300Data Table Gallons Beginning Work-in-Process Inventory 200 gallons Started in production 9,700 gallons Completed and transferred out to Packaging in March 4,800 gallons Ending Work-in-Process Inventory (80% of the way 5,100 gallons through the fermenting process) Costs Beginning Work-in-Process Inventory: Direct materials $ 4,005 Direct labor 150 Manufacturing overhead allocated 240 Costs added during March: Direct materials 9,360 Direct labor 2,726 3,100 Manufacturing overhead allocated $ 15,186 Total costs added during March %24
- Units in beginning WIP Inventory completed this period Units Started and completed this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for Total cost of units completed $ Step 3: Account for costs Total number of units completed Physical Units What is The Skysong Company's total cost units completed? Actual unit cost for units completed $ 1,500 15,100 How many total units did the company complete this period? Total cost per equivalent unit this period $ The actual cost for the units completed this period is 500 17,100 Total Costs The Skysong Company uses the FIFO method of process costing. $1,155 26,895 $28,050 % Added This Period DM 100% 100% $755 0% 8.580 $9,335 DM Equivalent Units Equiv. Units 15,100 500 15,600 Conversion Costs $400 What was the actual per-unit cost for those units completed? (Round answer…D Question 11 A company had a beginning work in process (WIP) inventory balance of $32.900. During the year, $55,100 of direct materials was placed into production Direct labor was $64,400, and Indirect labor was $19,900. Manufacturing overhead is allocated at 140% of direct labor costs. Actual manufacturing overhead was $86,500, and Cost of Goods Manufactured totaled $225,400. What is the ending work in process inventory balance? # $90.160 O $17.160. O $13.500 Ⓒ$187.4460Beginning work in process inventory Units started this period Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Completed and transferred out Ending work in process inventory Production cost information for the forming department follows. Units 30,000 390,000 380,000 40,000 Required A Required B Required C $50,200 18,900 Completed and transferred out Ending work in process 1,507,160 1,031,660 Units 380,000 40,000 Complete this question by entering your answers in the tabs below. Direct Materials Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to output LO P1 Percent Complete 80% a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department c. Using the weighted average method, assign costs to the forming…