Baqi... a Amazon.com: The Other Costs per Equivalent Unit and Production Costs T

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Baqi... a Amazon.com: The Other 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, conversion costs are incurred evenly throughout the process. The beginning inventory consists of $82,560 of direct materials. ACCOUNT NO. Balance DebitCredit Date Item Debit Credit 89,856 820,656 871,096 69,660 940.756 730,800 50,440 30 Direct materials, 58,000 units 30 Direct labor 30 Factory overhead 30 Goods finished, 2 units Cost per equivalent units of $12.60 for Direct Materials and $2.00 for Conversion Costs Based on the above data, determine each of the following amounts. if required, round your interim celculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in November. PreviousNext m2 attachment.pdf

Explanation / Answer

Req a: Cost of Beginning WIP completed in Nov: Beginning Cost 89856 Material 0 Conversion (6400*40%) units @2 per unit 5120 Cost of Beginning WIP completed in Nov: 94976 Req b: Cost of nits transferred to next deptt. Cost of units started and completed (52900 units @14.60) 772340 Cost of Begiinning WIP cocmplted (computed above) 94976 Cost of Units completed 867316 Note: Units started 58000 less: ending WIP 5100 Units started and completed 52900 Req C: Cost of Ending units: Material (5100 units @12.60) 64260 Conversion (5100*90%) units @2) 9180 Cost of Ending units: 73440 Req d: Cost of Equivalent unit in beginning WIP: Material (82560 /6400) 12.9 Converesion (7296/(6400*60%)) 1.9 Req E: Change in Material cost per equivalent unit Decrease 0.3 Change in converesion cost per equivalent unit Increase 0.1

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