Question
Equivalent Units of Production and Related Costs The charges to Work in ProcessAssembly Department for a period, together with information concerning production, are as follows.
Equivalent Units of Production and Related Costs
The charges to Work in ProcessAssembly 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., 4,000 units, 70% completed | 10,520 | To Finished Goods, 92,000 units | ? |
Direct materials, 94,000 units @ $1.3 | 122,200 | ||
Direct labor | 134,500 | ||
Factory overhead | 52,300 | ||
Bal. ? units, 70% completed | ? |
Determine the following:
a. The number of units in work in process inventory at the end of the period. units
b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "0".
Work in Process-Assembly Department | |||
Equivalent Units of Production for Direct Materials and Conversion Costs | |||
Whole Units | Equivalent Units Direct Materials | Equivalent Units Conversion | |
Inventory in process, beginning | |||
Started and completed | |||
Transferred to finished goods | |||
Inventory in process, ending | |||
Total units |
c. Costs per equivalent unit for direct materials and conversion. If required, round your answers to the nearest cent.
Costs Per Equivalent Unit | |
Direct Materials | $ |
Conversion | $ |
d. Cost of the units started and completed during the period. $
Cost per Equivalent Unit
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 $104,860 of direct materials.
ACCOUNT Work in ProcessForging Department | ACCOUNT NO. | ||||||||
Date | Item | Debit | Credit | Balance | |||||
Debit | Credit | ||||||||
Nov. | 1 | Bal., 9,800 units, 60% completed | 117,796 | ||||||
30 | Direct materials, 89,000 units | 934,500 | 1,052,296 | ||||||
30 | Direct labor | 87,500 | 1,139,796 | ||||||
30 | Factory overhead | 120,834 | ? | 1,260,630 | |||||
30 | Goods finished, ?units | ? | |||||||
30 | Bal., 7,800 units, 70% completed | ? |
a. Determine the number of units transferred to the next department. units
b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places.
Cost per equivalent unit of direct materials | $ |
Cost per equivalent unit of conversion | $ |
c. Determine the cost of units started and completed in November. $
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