Question - The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $86,250 of direct materials.
Debit Credit Debit
June 1 Bal.,7,500 units, 60% completed 98,850
30 Direct materials, 68,000 units761,6000 860,450
30 Direct labor 83,380 943,830
30 Factory overhead 117,300 1,061,130
30 Goods transferred, ?units ?
30 Bal., 6,000 units, 70% completed ?
Determine the cost of units started and completed in June.