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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
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 $17,400 of direct materials.
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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 $17,400 of direct materials ACCOUNT Work in Process-Forging Department ACCOUNT NO Balance Date Item Debit Credit Debit Credit Nov. 1 30 Direct materials, 8,300 units 0Direct labor 0Factory overheacd 30 Goods transferred, 2 units 30 Bal, 900 units, 70% completed Bal., 1,200 units, 60% completed 124,500 18,950 20,196 20,856 45,356 164,306 184,502 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 23064 b. Cost of units transferred to the next department during November 16810 c. Cost of ending work in process inventory on November 30 14504 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 9500 9230 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 15.00 4.60 Change in direct materials cost per equivalent unit Increase Change in conversion cost per equivalent unit Decreasi
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