Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.50 and $1.00, respectively. The equivalentunits to be assigned costs are as follows:Equivalent UnitsDirect MaterialsConversionInventory in process, October 14,800Started and completed during October69,00069,000Transferred out of Rolling (completed)69,00073,800Inventory in process, October 316,0003,000Total units to be assigned costs75,00076,800The beginning work in process inventory on October 1 had a cost of $2,640. Determine the cost of completed and transferred-out production, the ending work inprocess inventory, and the total costs assigned by the Rolling Department.Completed and transferred-out productionInventory in process, October 31Total costs assigned by the Rolling Department$

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Description: Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.50 and $1.00, respectively. The equivalentunits to be assigned costs are

The direct material cost is the cost that has been incurred by the company to purchase the raw…

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The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.50 and $1.00, respectively. The equivalen units to be assigned costs are as follows:

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $0.50 and $1.00, respectively. The equivalen units to be assigned costs are as follows:

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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