The above information (picture) concerns production in the Forging Department for November. All direct materials are placed in process at the beginning of production.  What is the Direct Materials Cost Per Equvalent Unit? ________________   What is the Conversion cost per equivalent unit?  _____________________ What is the cost of the beginning work in process completed

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The above information (picture) concerns production in the Forging Department for November. All direct materials are placed in process at the beginning of production. 

What is the Direct Materials Cost Per Equvalent Unit? ________________  

What is the Conversion cost per equivalent unit?  _____________________

What is the cost of the beginning work in process completed during May? __________________

What is the cost of the ending work in process? ___________________

What is the amount of the costs transfered to Finished Goods (or the next department)? _____________________

 

ACCOUNT Work in Process-Forging Department
ACCOUNT NO.
Balance
Date
Item
Debit
Credit
Debit
Credit
Nov. 1 Bal., 1,200 units, 60% completed
30 Direct materials, 8,300 units
30 Direct labor
30 Factory overhead
30 Goods transferred, 2 units
30 Bal., 900 units, 70% completed
20,856
145,356
164,306
184,502
124,500
18,950
20,196
?
?
Transcribed Image Text:ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Nov. 1 Bal., 1,200 units, 60% completed 30 Direct materials, 8,300 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 2 units 30 Bal., 900 units, 70% completed 20,856 145,356 164,306 184,502 124,500 18,950 20,196 ? ?
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