Question
Cost per Equivalent Unit: Weighted average method The following information concerns production in the Forging Department for June. The Forging Department uses the Weighted average
Cost per Equivalent Unit: Weighted average method
The following information concerns production in the Forging Department for June. The Forging Department uses the Weighted average method.
ACCOUNTWork in ProcessForging DepartmentACCOUNT NO.DateItemDebitCreditBalanceDebitCreditJune1Bal., 500 units, 40% completed5,00030Direct materials, 3,700 units49,20054,20030Direct labor25,20079,40030Factory overhead25,120104,52030Goods transferred, 3,600 units??30Bal., 600 units, 70% completed?
a.Determine the cost per equivalent unit.
$per equivalent unit
b.Determine cost of units transferred to Finished Goods.
$
c.Determine the cost of units in ending Work in Process.
$
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started