20-5 Homework - Exercise 20-15 Costs per Equivalent Unit and Production Costs Th
ID: 2417330 • Letter: 2
Question
20-5 Homework - Exercise 20-15
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 $17,400 of direct materials.
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.
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.
Direct materials cost per equivalent unit $ ________ Conversion cost per equivalent unit $ ________Explanation / Answer
A)$17,400
B) (8600*19.55) = $168,130
c) (900*14.94 + 630 *4.61) = $16,350
d) Equivalent units 9,500 (materials)- 9,230 (conversion)
e) Increase in Material cost $.44
Conversion cost $1.73
Beginning WIP 1,200 Completed and transferred 8,600
Started 8,300 Ending WIP 900
Units to be accounted 9,500 Units accounted for 9,500
Equivalent units
Materials conversion
Transferred 8,600 8,600
Edning WIP 900 630
Total units 9,500 9,230
cost
Beginning cost 17,400 3456
Added 124,500 39,146
total $141,900 $42,602
Cost per unit $14.94 $4.61
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