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Need help. Show how you got the answers. Part 1 Part 2 Costs per Equivalent Unit and Production Costs The following information concerns production in
Need help. Show how you got the answers.
Part 1
Part 2
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 $54,150 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 1 Bal., 5,700 units, 60% completed 62,358 Nov. 30 Direct materials, 52,000 units 478,400 540,758 596,308 30 Direct labor 55,550 30 Factory overhead 76,700 673,008 30 Goods finished,? units ? 30 Bal., 4,600 units, 70% completed Cost per equivalent units of $9.20 for Direct Materials and $2.50 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 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 $48,450 of direct materials. ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Debit Date Item Credit Debit Credit 1 Bal., 5,100 units, 80% completed 61,506 Nov. 30 Direct materials, 46,000 units 427,800 489,306 30 Direct labor 64,600 553,906 30 Factory overhead 89,213 643,119 30 Goods finished, ? units ? 30 Bal., 4,100 units, 90% 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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