Question

In: Accounting

The following information concerns production in the Forging Department for November. All direct materials are placed...

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 $106,400 of direct materials.

ACCOUNT Work in Process—Forging Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
Nov. 1 Bal., 9,500 units, 60% completed 117,800
30 Direct materials, 86,000 units 946,000 1,063,800
30 Direct labor 76,520 1,140,320
30 Factory overhead 105,676 ? 1,245,996
30 Goods finished, ? units ?
30 Bal., 7,600 units, 60% completed ?

a. Determine the number of units transferred to the next department.
fill in the blank 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 2
Cost per equivalent unit of conversion $fill in the blank 3

c. Determine the cost of units started and completed in November.
$fill in the blank 4

Solutions

Expert Solution

sheet 1:

1....

Unit transferred =Opening Inventory + added during the period - Edning Inventory

2.....

Particular Material Conversion cost Total cost
A B C D
Cost incurred in the period : from sheet 1 946000 182196 1128196
Equivalent Units 86000 86760
Cost per EU 11.00 2.10

working of unit introduced , completed and transfered during the period

working : Equivalent Units

3....

Answer ; 1027040

additional details as to cost of total units transferred

Cost of Total unit transfeered
opening invenotry cost of previous period $          117,800
cost incurred in the period
Opening Balance 7980
started and completed in the period 1027040
Total Cost $      1,152,820

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