For the Month of November, Department B Completed and Transferred

question 78

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 percent complete. The following cost information is available for the period:
Required:
(A) Determine the cost per equivalent whole unit for the month of November. (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.) $$\begin{array} { | l | r | } \hline \text { Cost transferred in } & \$ 35,000 \\\hline \text { Cost of beginning work in process } & 3,600 \\\hline \text { Direct materials } & 17,000 \\\hline \text { Direct labor } & 9,000 \\\hline \text { Manufacturing overhead } & 12,000 \\\hline\end{array}$$

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Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, with rights to vote on corporate matters and receive dividends.

Net Income

The conclusive financial profit of a company after subtracting expenses and tax payments from its revenue stream.

Dividends

Funds dispensed by a business to its shareholders, allocating a fraction of the company's financial gains to them.

Operating Cash Flow

The cash generated from the normal operations of a company, reflecting the amount of cash earned from the production and selling of goods and services.