Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit...
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Accounting
Cost of Units Transferred Out and Ending Work in Process
The costs per equivalent unit of direct materials and conversion in the Rolling Department of Jabari Steel Company are $1.40 and $0.25, respectively. The equivalent units to be assigned costs are as follows:
| Equivalent Units Direct Materials | Equivalent Units Conversion | |
| Inventory in process, October 1 | 0 | 4,300 |
| Started and completed during October | 62,000 | 62,000 |
| Transferred out of Rolling (completed) | 62,000 | 66,300 |
| Inventory in process, October 31 | 8,000 | 3,200 |
| Total units to be assigned costs | 70,000 | 69,500 |
The beginning work in process inventory on October 1 had a cost of $2,750. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department.
| Completed and transferred-out production | |
|---|---|
| Inventory in process, October 31 | |
| Total costs assigned by the Rolling Department |
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