Work in process inventory, November 1 Work in process inventory, November 30 Materials cost in work in process inventory, November 1 Conversion cost in work in process inventory, November 1 Units started into production Units transferred to the next process Materials cost added during November Conversion cost added during November Equivalent units of production Materials Conversion 458,800 442,800 Cost per equivalent unit Materials Conversion Units Required: 1. Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for November for the first process. S 1.37 S 84,000 64,000 0.84 Respect to Materials 50% 45% 2. Compute the costs per equivalent unit for November for the first process. (Round your answers to 2 decimal places.) $ 81,480 $ 45,360 410,000 430,000 $547,076 $326,592 Respect to Conversion 25% 20% 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in November.

Work in process inventory, November 1 Work in process inventory, November 30 Materials cost in work in process inventory, November 1 Conversion cost in work in process inventory, November 1 Units started into production Units transferred to the next process Materials cost added during November Conversion cost added during November Equivalent units of production Materials Conversion 458,800 442,800 Cost per equivalent unit Materials Conversion Units Required: 1. Assume that the company uses the weighted-average method of accounting for units and costs. Determine the equivalent units for November for the first process. S 1.37 S 84,000 64,000 0.84 Respect to Materials 50% 45% 2. Compute the costs per equivalent unit for November for the first process. (Round your answers to 2 decimal places.) $ 81,480 $ 45,360 410,000 430,000 $547,076 $326,592 Respect to Conversion 25% 20% 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in November.

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...

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