1.

Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are rolled into steel sheet. The Rolling Department received 63,200 tons from the Casting Department in October. During October, the Rolling Department completed 66,800 tons, including 7,400 tons of work in process on October 1. The ending work in process inventory on October 31 was 3,800 tons.

How many tons were started and completed during October? fill in the blank 1 tons

3.

Equivalent Units of Conversion Costs

The Rolling Department of Kraus Steel Company had 4,928 tons in beginning work in process inventory (10% complete) on October 1. During October, 44,800 tons were completed. The ending work in process inventory on October 31 was 2,688 tons (10% complete).

What are the total equivalent units for conversion costs? Round to the nearest whole unit.

4.

The cost of direct materials transferred into the Rolling Department of Kraus Company is $603,200. The conversion cost for the period in the Rolling Department is $304,500. The total equivalent units for direct materials and conversion are 2,900 tons and 5,250 tons, respectively.

Determine the direct materials and conversion costs per equivalent unit.

Direct materials cost per equivalent unit:

Conversion cost per equivalent unit:

5.

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus Steel Company are $2.65 and $1.60, respectively. The equivalent units to be assigned costs are as follows:

	Equivalent Units
	Direct Materials		Conversion
Inventory in process, October 1	0		3,900
Started and completed during October	55,000		55,000
Transferred out of Rolling (completed)	55,000		58,900
Inventory in process, October 31	4,000		2,400
Total units to be assigned costs	59,000		61,300

The beginning work in process inventory on October 1 had a cost of $2,770. 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