The following information concerns production in the Forging Department for September. 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 $64,680 of direct materials.
ACCOUNT Work in ProcessâForging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Sept. 1 Bal., 4,900 units, 40% completed 70,364 30 Direct materials, 45,000 units 585,000 655,364 30 Direct labor 58,930 714,294 30 Factory overhead 81,380 ? 795,674 30 Goods finished, ? units ? 30 Bal., 3,900 units, 70% completed ?
a. Determine the number of units transferred to the next department.
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 $ Cost per equivalent unit of conversion $
c. Determine the cost of units started and completed in September.
$
The following information concerns production in the Forging Department for September. 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 $64,680 of direct materials.
| ACCOUNT Work in ProcessâForging Department | ACCOUNT NO. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Sept. | 1 | Bal., 4,900 units, 40% completed | 70,364 | ||||||
| 30 | Direct materials, 45,000 units | 585,000 | 655,364 | ||||||
| 30 | Direct labor | 58,930 | 714,294 | ||||||
| 30 | Factory overhead | 81,380 | ? | 795,674 | |||||
| 30 | Goods finished, ? units | ? | |||||||
| 30 | Bal., 3,900 units, 70% completed | ? | |||||||
a. Determine the number of units transferred to the next department.
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 | $ |
| Cost per equivalent unit of conversion | $ |
c. Determine the cost of units started and completed in September.
$
Related questions
Costs per Equivalent Unit and Production Costs
The following information concerns production in the Forging Department for September. 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 $66,220 of direct materials.
| ACCOUNT Work in ProcessâForging Department | ACCOUNT NO. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Sept. | 1 | Bal., 7,700 units, 80% completed | 78,540 | ||||||
| 30 | Direct materials, 70,000 units | 588,000 | 666,540 | ||||||
| 30 | Direct labor | 60,910 | 727,450 | ||||||
| 30 | Factory overhead | 84,116 | ? | 811,566 | |||||
| 30 | Goods finished, ? units | ? | |||||||
| 30 | Bal., 6,200 units, 60% completed | ? | |||||||
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 September.
$
b. Cost of units transferred to the next department during September.
$
c. Cost of ending work in process inventory on September 30.
$
d. Costs per equivalent unit of direct materials and conversion included in the September 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 | $ |
e. The September 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 | |
| Change in direct materials cost per equivalent unit | Decrease | $ |
| Change in conversion cost per equivalent unit | Increase | $ |
Cost per Equivalent Unit
The following information concerns production in the ForgingDepartment for September. All direct materials are placed into theprocess at the beginning of production, and conversion costs areincurred evenly throughout the process. The beginning inventoryconsists of $66,500 of direct materials.
| ACCOUNT Work in ProcessâForgingDepartment | ACCOUNT NO. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Sept. | 1 | Bal., 7,000 units, 50% completed | 78,050 | ||||||
| 30 | Direct materials, 64,000 units | 588,800 | 666,850 | ||||||
| 30 | Direct labor | 93,990 | 760,840 | ||||||
| 30 | Factory overhead | 129,798 | ? | 890,638 | |||||
| 30 | Goods finished, ? units | ? | |||||||
| 30 | Bal., 5,600 units, 70% completed | ? | |||||||
a. Determine the number of units transferred tothe next department.
units
b. Determine the costs per equivalent unit ofdirect materials and conversion. If required, round your answer totwo decimal places.
| Cost per equivalent unit of direct materials | $ |
| Cost per equivalent unit of conversion | $ |
c. Determine the cost of units started andcompleted in September.
$
