Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Costs per Fquivalent Unit and Production Costs The following information concerns production in the Forging Department for November, All direct materials are placed into the

image text in transcribed
image text in transcribed
Costs per Fquivalent 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 productoon, and conversion costs are incurred evenly throughout the process. The beginning inventery consists of 989,540 of direct matenais, Cost per equivalent units of $11.90 for Direct Materiais and $2.30 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimat places. Roond final answers (a-c) to the nearest dolar. a. Cost of becinning work in process inventory completed in November. b. Cost of units tronsferred to the next department during November, c. Cost of ending work in process inventory on November 30 . Cost per equivalent units of $11.90 for Direct Materials and $2.30 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 (0c) to the nearest dolist. a. Cosk of beginning wotk in process inventory completed in November. b. Cost of units transerred to the nekt department during November. 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 antwers to two dedmal piaces e. The November increase or decrease in costs per equivalent unit for direct materials and conversion from the previous month. If required, reund your answers to two decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Harold M. Sollenberger, Arnold Schneider, Lane K. Anderson

9th Edition

0538842822, 978-0538842822

Students also viewed these Accounting questions

Question

Understand what derivative security markets are. AppendixLO1

Answered: 1 week ago