On July 1, 2013, There Was No Beginning Inventory in Dept

question 38

Short Answer

On July 1, 2013, there was no beginning inventory in Dept. A, the first department. During the month, production was started on 3,000 units. The total cost of materials was $18,000. All materials were placed in production at the start of the manufacturing process in the department. During the month, 2,400 units were transferred to the next department. There were 600 units still in process at the end of the month.
1. What is the cost per equivalent unit for materials?
2. What is the cost of materials in the goods transferred to the next department?
3. What is the cost of materials in the ending work in process inventory?

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Definitions:

Richard Shiffrin

A psychologist known for his work on memory, including the development of the multi-store model of memory with Richard Atkinson.

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Big Data

Refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.