Question
Question Content Area Cost per Equivalent Unit The following information concerns production in the Forging Department for June. All direct materials are placed into the
Question Content Area
Cost per Equivalent Unit
The following information concerns production in the Forging Department for June. 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 $115,600 of direct materials.
| Date | Item | Debit | Credit | Balance Debit | Balance Credit |
|---|---|---|---|---|---|
| June 1 | Bal., 8,500 units, 50% completed | 130,050 | |||
| 30 | Direct materials, 77,000 units | 1,024,100 | 1,154,150 | ||
| 30 | Direct labor | 118,440 | 1,272,590 | ||
| 30 | Factory overhead | 163,555 | 1,436,145 | ||
| 30 | Goods transferred, ? units | ? | ? | ||
| 30 | Bal., 6,800 units, 90% completed | ? |
a. Determine the number of units transferred to the next department. fill in the blank 1 of 1 units
b. Determine the costs per equivalent unit of direct materials and conversion. If required, round your answer to two decimal places. Cost per equivalent unit of direct materials fill in the blank 1 of 2$ Cost per equivalent unit of conversion fill in the blank 2 of 2$
c. Determine the cost of units started and completed in June. fill in the blank 1 of 1$
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
