For the Month of November,Department B Completed and Transferred to the Next

question 20

Essay

For the month of November,Department B completed and transferred to the next department 5,000 units of product.Department B's ending work in process was 3,000 units that were 10% complete.The following cost information is available for the period:
$$\begin{array} { l r } \text { Cost transferred in } & \$35,000 \\\text { Cost of begirning work in process } & 3,600 \\\text { Direct materials } & 17,000 \\\text { Direct labor } & 9,000 \\\text { Marufacturing overhead } & 12,000\end{array}$$ Required:
(A)Determine the cost per equivalent unit for the month of November using the weighted average method.(Round your answer to three decimal places.)
(B)Determine the cost transferred out during the month.
(C)Calculate the cost assigned to the ending work in process at the end of the month.(Round your answer to the nearest dollar.)

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Definitions:

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels, such as corporate income and then again as shareholder dividends.

Corporate Form

A legal structure for organizations that allows them to operate as separate legal entities from their owners, with the ability to hold assets, sue, and be sued.

Accounting

Accounting is the systematic practice, work, or process of communicating and recording financial information for a business or individual.

Finance

The management of large amounts of money, especially by governments or large companies, including the processes of investing, borrowing, lending, budgeting, saving, and forecasting.