Cost per Equivalent Unit Average Cost Method The following information concerns production in the Forging Department for June The Forging Department uses the average cost method ACCOUNT Work in ProcessForging Department ACCOUNT NO Balance Date Item Debit Credit Debit Credit June 1 Bal , 2,100 units, 20 completed 11,554 30 Direct materials, 48,500 units 412,250 423,804 30 Direct labor 178,400 602,204 30 Factory overhead 97,800 700,004 30 Goods transferred, 48,200 units 30 Bal , 2,400 units, 90 completed a Determine the cost per equivalent unit Round your answer to the nearest cent $ per equivalent unit b Determine the cost of the units transferred to Finished Goods $ c Determine the cost of units in ending Work in Process $

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

Cost per Equivalent Unit: Average Cost Method

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

ACCOUNT Work in ProcessForging Department					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
June	1	Bal., 2,100 units, 20% completed			11,554
	30	Direct materials, 48,500 units	412,250		423,804
	30	Direct labor	178,400		602,204
	30	Factory overhead	97,800		700,004
	30	Goods transferred, 48,200 units		?	?
	30	Bal., 2,400 units, 90% completed			?

a. Determine the cost per equivalent unit. Round your answer to the nearest cent. $ per equivalent unit

b. Determine the cost of the units transferred to Finished Goods. $

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

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