Hello I am Raj and I need assistance with this algorithm.Thanks
. EX.17-15.ALGO
Costs per Equivalent Unit and Production Costs
The following information concerns production in the ForgingDepartment for November. All direct materials are placed into theprocess at the beginning of production, and conversion costs areincurred evenly throughout the process. The beginning inventoryconsists of $56,050 of direct materials.
| ACCOUNT Work in Process—ForgingDepartment | ACCOUNT NO. |
| Date | Item | Debit | Credit | Balance |
| Debit | Credit |
| Nov. | 1 | Bal., 5,900 units, 80% completed | | | 65,962 | | |
| 30 | Direct materials, 54,000 units | 502,200 | | | 568,162 | | |
| 30 | Direct labor | 49,680 | | | 617,842 | | |
| 30 | Factory overhead | 68,614 | | ? | | 686,456 | | |
| 30 | Goods finished, ? units | | | ? | | |
| 30 | Bal., 4,700 units, 70% completed | | | ? | | |
Cost per equivalent units of $9.30 for Direct Materials and$2.20 for Conversion Costs.
Based on the above data, determine each of the followingamounts.
If required, round your interim calculations to two decimalplaces. Round final answers (a-c) to the nearest dollar.
a. Cost of beginning work in process inventorycompleted in November.
$
b. Cost of units transferred to the nextdepartment during November.
$
c. Cost of ending work in process inventory onNovember 30.
$
d. Costs per equivalent unit of directmaterials and conversion included in the November 1 beginning workin process. If required, round your answers to two decimalplaces.
| Direct materials cost per equivalent unit | $ |
| Conversion cost per equivalent unit | $ |
e. The November increase or decrease in costsper equivalent unit for direct materials and conversion from theprevious month. If required, round your answers to two decimalplaces.
| Increase or Decrease | Amount |
| Change in direct materials cost per equivalent unit | | $ |
| Change in conversion cost per equivalent unit | | $ |
