The following information concerns production in the Forging Department for Apri

Question

The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method. Determine the cost per equivalent unit. Round your answer to the nearest cent. per equivalent unit Determine the cost of the units transferred to Finished Goods. Determine the cost of units in ending Work in Process. The following information concerns production in the Forging Department for April. The Forging Department uses the average cost method. Determine the cost per equivalent unit. Round your answer to the nearest cent. per equivalent unit Determine the cost of the units transferred to Finished Goods. Determine the cost of units in ending Work in Process.

Explanation / Answer

Forging Department April Details Units % completion equivalent Units Output calculation Units Transferred              39,000 100%                         39,000 Ending WIP                 2,000 60%                            1,200 Total Equivalent Units                         40,200 Cost Details Amt $ Total cost            369,840 Total Equivalent Units              40,200 a Cost /Equivalent Unit $               9.20 b Units Trasnferred              39,000 Cost of units transferred $        358,800 c Equivalent units in WIP                 1,200 Cost of Units in WIP $          11,040

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