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 Oak Ridge Steel Company are $1.20 and $1.35, respectively. The equivalent units to be assigned costs are as follows:   Equivalent Units   Direct Materials Conversion Inventory in process, July 1 0   4,000   Started and completed during July 67,000   67,000   Transferred out of Rolling (completed) 67,000   71,000   Inventory in process, July 31 9,000   4,500   Total units to be assigned costs 76,000   75,500   The beginning work in process inventory on July 1 had a cost of $2,600. 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, ending $ Total costs assigned by the Rolling Department $

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 Department

Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 35% completed 15,225 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.3 214,500 Direct labor 318,900 Factory overhead 124,035 Bal. ? units, 50% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials…

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 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 59,300

Equivalent Units of Conversion Costs The Rolling Department of Jabari Steel Company had 2,814 tons in beginning work in process inventory (20% complete) on October 1. During October, 40,200 tons were completed. The ending work in process inventory on October 31 was 2,010 tons (10% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit. units

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 $2.30 and $1.85, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, October 1 1,500 Started and completed during October 30,000 30,000 Transferred out of Rolling (completed) 30,000 31,500 Inventory in process, October 31 3,000 1,800 Total units to be assigned costs 33,000 33,300 The beginning work in process inventory on October 1 had a cost of $920. 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 181,000 x Inventory in process, October 31 Total costs assigned by the Rolling Department Feedback TCheck My Work The assumption would be that units that had been in beginning work in…

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