Cost per Equivalent Unit Average Cost Method The following information concerns production in the Forging Department for April The Forging Department uses the average cost method ACCOUNT Work in ProcessForging Department ACCOUNT NO Date Item Debit Credit Balance Debit Credit April 1 Bal , 1,400 units, 40 completed 7,024 30 Direct materials, 32,300 units 251,940 258,964 30 Direct labor 108,700 367,664 30 Factory overhead 59,600 427,264 30 Goods transferred, 32,100 units 30 Bal , 1,600 units, 80 completed a Determine the cost per equivalent unit Round your answer to the nearest cent $fill in the blank 1 per equivalent unit b Determine the cost of the units transferred to Finished Goods $fill in the blank 2 c Determine the cost of units in ending Work in Process $fill in the blank 3

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Question: Cost per Equivalent Unit: Average Cost Method The following information concerns production in the Forging Department for April. The Forging Department uses the average cost

Cost per Equivalent Unit: Average Cost Method

The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method.

ACCOUNT Work in ProcessForging Department					ACCOUNT NO.
Date		Item	Debit	Credit	Balance
Date		Item	Debit	Credit	Debit	Credit
April	1	Bal., 1,400 units, 40% completed			7,024
	30	Direct materials, 32,300 units	251,940		258,964
	30	Direct labor	108,700		367,664
	30	Factory overhead	59,600		427,264
	30	Goods transferred, 32,100 units		?	?
	30	Bal., 1,600 units, 80% completed			?

a. Determine the cost per equivalent unit. Round your answer to the nearest cent. $fill in the blank 1 per equivalent unit

b. Determine the cost of the units transferred to Finished Goods. $fill in the blank 2

c. Determine the cost of units in ending Work in Process. $fill in the blank 3

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