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 $9,000 of direct materials.
| ACCOUNT Work in Process—Forging Department | ACCOUNT NO. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Nov. | 1 | Bal., 900 units, 60% completed | 10,566 | ||||||
| 30 | Direct materials, 12,900 units | 123,840 | 134,406 | ||||||
| 30 | Direct labor | 21,650 | 156,056 | ||||||
| 30 | Factory overhead | 16,870 | 172,926 | ||||||
| 30 | Goods transferred, ? units | ? | ? | ||||||
| 30 | Bal., 1,400 units, 70% 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 November.
$11,646
b. Cost of units transferred to the next department during November.
$156,546
c. Cost of ending work in process inventory on November 30.
$16,380
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 | $fill in the blank 4 |
| Conversion cost per equivalent unit | $fill in the blank 5 |
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 | |
| Change in direct materials cost per equivalent unit | Decrease | $fill in the blank 7 |
| Change in conversion cost per equivalent unit | Increase | $fill in the blank 9 |
d and e I could not find
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 $120,960 of direct materials.
| ACCOUNT Work in Process—Forging Department | ACCOUNT NO. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Nov. | 1 | Bal., 9,600 units, 50% completed | 137,760 | ||||||
| 30 | Direct materials, 87,000 units | 1,070,100 | 1,207,860 | ||||||
| 30 | Direct labor | 134,140 | 1,342,000 | ||||||
| 30 | Factory overhead | 185,252 | ? | 1,527,252 | |||||
| 30 | Goods finished, ? units | ? | |||||||
| 30 | Bal., 7,700 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 November.
$fill in the blank 1
b. Cost of units transferred to the next department during November.
$fill in the blank 2
c. Cost of ending work in process inventory on November 30.
$fill in the blank 3
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 | $fill in the blank 4 |
| Conversion cost per equivalent unit | $fill in the blank 5 |
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 | |
| Change in direct materials cost per equivalent unit | $fill in the blank 7 | |
| Change in conversion cost per equivalent unit | $fill in the blank 9 |
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