(Solved): Costs per Equivalent Unit and Production Costs The following information concerns production in the ...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $18,000 of direct materials. \table[[ACCOUNT Work in Process-Forging Department,ACCOUNT NO.],[Date,Item,Debit,Credit,\table[[Balance],[Debit]],\table[[Balance],[Credit]]],[June 1,Bal., 1,800 units, 60% completed,,,21,132,],[30,Direct materials, 25,800 units,247,680,,268,812,],[30,Direct labor,43,300,,312,112,],[30,Factory overhead,33,740,,345,852,],[30,Goods transferred, ? units,,?,?,],[30,Bal., 2,800 units, 70% completed,,,?,]] Cost per equivalent units of

for Direct Materials and

for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in June $ b. Cost of units transferred to the next department during June $d. Costs per equivalent unit of direct materials and conversion included in the June 1 beginning work in process (If required, round your answers to two decimal places.) Direct materials cost per equivalent unit $

Conversion cost per equivalent unit $

e. The June increase or decrease in costs per equivalent unit for direct materials and conversion from the previous month (May) (If required, round your answers to two decimal places.) \table[[,Increase or Decrease,Amount],[Change in direct materials cost per equivalent unit,Decrease,

,$,],[Change in conversion cost per equivalent unit,Increase,(,$,]] Feedback Check My Work a. How much more (percentage amount) needed to be done to the beginning work in process units to make the units to complete to transfer to the next department? Did these units require more material cost or more conversion cost? How much, in terms of cost, had been done to these units in the prior period? b. In order for units to be transferred to the next department, the units have to be complete with respect to both materials and conversion.