Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $90,280 of direct materials. ACCOUNT Work in Process ACCOUNT NO. Forging Department Balance Date Item Debit Credit Debit Credit Bal., 7,400 Nov. 1 units, 40% 101.528 completed Direct 30 materials, 804,000 905,528 67,000 units 30 Direct labor 114,120 157,593 ? overhead Goods 30 finished, 2 units Bal., 5,900 30 units, 70% completed 30 Factory Cost per equivalent units of $12.00 for Direct Materials and $3 Based on the above data, determine each of the following required, round your interim calculations to two decimal a. Cost of beginning work in process inventory ers (-) to the nearest dollar b. Cost of units transferred to the next department c. Cost of ending work in process inventory d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required, round your answers to two Check My Works Cost per equivalent units of $12.00 for Direct Materials and $3.90 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. b. Cost of units transferred to the next department during November. c. Cost of ending work in process inventory on November 30. d. Costs per equivalent unit of direct materials and conversion included in the November 1 beginning work in process. If required, round your answers to two decimal places Direct materials cost per equivalent unit Conversion cost per equivalent unit e. The November increase or decrease in costs per equivalent unit for direct materials and conversion from the previous month. If required, round your answers to two decimal places Increase or Decrease Amount Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit Increase Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tutting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods Work in Process Spinning Department Work in Process-Tufting Department Materials $7 200 1.000 2,400 4.300 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: 1 Materials purchased on account. $80,000 2 Materials requisitioned for use: Fiber-Spinning Department, $42.000 Carpet backing-Tufting Department. $34,600 Indirect materials-Spinning Department $3,000 Indirect materials-Tufting Department, $2,900 Labor used: Direct labor-Spinning Department, $26.900 Direct labor-Tufting Department, $17,800 Indirect labor-Spinning Department, $11.700 Indirect labor-Tutting Department. $11,800 Depreciation charged on foxed assets Spinning Department, $5,300 Tufting Department, $3,500 31 Expired prepaid factory insurance Spinning Department. $1,300 Tufting Department. $1,000 31 Applied factory overhead: Spinning Department, $21,500 Tutting Department, $18,850 31 Production costs transferred from Spinning Department to Tufting Department, $85,000 31 Production costs transferred from Tufting Department to Finished Goods, $152,600 31 Cost of goods sold during the period, $155,300 Required: 1. Joumature the entries to record the operations using the dates provided with the summary of manufacturing operations. Refer to the Chart of Accounts for exact wording of account titles. 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts. "Enter your amounts in positive value. Instructions Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yam. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods $7.200 Work in Process-Spinning Department 1,000 Work in Process-Tufting Department 2,400 Materials 4,300 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: Jan. 1 Materials purchased on account, $80,000 2 Materials requisitioned for use: Fiber-Spinning Department, $42,000 Carpet backing-Tutting Department, $34.600 Indirect materials-Spinning Department. $3.000 Indirect materials-Tutting Department, $2,900 31 Labor used: Direct labor-Spinning Department. $26,900 Direct labor-Tufting Department, $17.800 Indirect labor-Spinning Department, $11,700 Indirect labor-Tufting Department, $11.800 Depreciation charged on fixed assets: Spinning Department, $5,300 Tufting Department, $3,500 31 Expired prepaid factory insurance Spinning Department, $1,300 Tufting Department, $1,000 31 Applied factory overhead: Spinning Department, $21.500 Tufting Department, $18,850 31 Production costs transferred from Spinning Department to Tufting Department, $85,000 31 Production costs transferred from Tufting Department to Finished Goods, $152,600 31 Cost of goods sold during the period, $155,300 Required: 1. Joumare the entries to record the operations, using the dates provided with the summary or manufacturing operations. Refer to the Chart of Accounts for exact wording of accountitles 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts. "Enter your amounts in positive value