The following information concerns production in the Forging Department for June.The Forging Department uses the average cost
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The following information concerns production in the Forging Department for June.The Forging Department uses the average cost method.
a. Determine the cost per equivalent unit.b. Determine the cost of the units transferred to Finished Goods.c. Determine the cost of ending Work inProcess.
Transcribed Image Text:
ACCOUNT Work in Process-Forging Department ACCOUNT NO. Balance Debit Credit Date Credit Item Debit 1 Bal, 2,000 units, 40% completed 30 Direct materials, 46,200 units 30 Direct labor 30 Factory overhead 30 Goods transferred, 45,900 units 30 Bal, 2,300 units, 70% completed 9,120 333,920 470,965 546,365 June 324,800 137,045 75,400
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a b c Units to be accounted for Beginning work in process Units started during the per...View the full answer
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Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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