Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information concerns production in t

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

50.1K

Verified Solution

Question

Accounting

The following information concerns production in the Forging Department for June. The Forging Department uses the weighted average cost method.
ACCOUNT Work in ProcessForging Department ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
June 1 Bal., 3,600 units, 20% completed 19,206
30 Direct materials, 83,200 units 698,880718,086
30 Direct labor 298,0001,016,086
30 Factory overhead 163,4001,179,486
30 Goods transferred, 82,600 units ??
30 Bal., 4,100 units, 70% 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 cost of 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

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

You have been given the following return information for a mutual fund, the market index, and...

Finance
Q

The Village of Green Bay received a gift of $3,000,000 from a local resident on April...

Accounting
Q

Consider four nonstandard dice, whose sides are labeled as follows (the 6 sides on each die...

Basic Math
Q

A) In duplicate recessive epistasis why does having either an (aa) or (bb) genotype cause no...

Biology
Q

Why is it important to know drug names and acronyms? REFLECT on your role as a...

Biology
Q

How does “surface roughness” affect the “fatigue stress endurance limit? What is the effect of pre-setting on...

Mechanical Engineering
Q

2 1 point In the figure below m45 134 and m 17 150 Find the...

Geometry
Q

ne a the volume and b the surface area of the three dimensional figure ppropriate...

Basic Math
Q

A car rental company's standard charge includes an initial fee plus an additional fee for...

Basic Math
Q

Find f'(x) and f'(c).Functionf(x) = (x + 2x)(4x4 + 4x ? 3)f'(x) =f'(c) =Value of...

Basic Math
Q

31 Santia is considering a vacation and has obtained high temperature data from the last...

Statistics
Q

Problem 12-49 (LO. 6, 8, 9) Liang, a calendar year S corporation, distributes $13,000 cash...

Accounting