ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 7,800 units, 2/5 completed 13,728 31 Direct materials, 140,400 units 210,600 224,328 31 Direct labor 63,920 288,248 31 Factory overhead 35,956 324,204 31 Goods finished, 142,200 units 312,684 11,520 31 Bal., ? units, 3/5 completed 11,520 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit $fill in the blank 1 2. Conversion cost per equivalent unit $fill in the blank 2 3. Cost of the beginning work in process completed during December $fill in the blank 3 4. Cost of units started and completed during December $fill in the blank 4 5. Cost of the ending work in process $fill in the blank 5 b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 7,800 units, 2/5 completed 13,728 31 Direct materials, 140,400 units 210,600 224,328 31 Direct labor 63,920 288,248 31 Factory overhead 35,956 324,204 31 Goods finished, 142,200 units 312,684 11,520 31 Bal., ? units, 3/5 completed 11,520 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent unit $fill in the blank 1 2. Conversion cost per equivalent unit $fill in the blank 2 3. Cost of the beginning work in process completed during December $fill in the blank 3 4. Cost of units started and completed during December $fill in the blank 4 5. Cost of the ending work in process $fill in the blank 5 b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
| ACCOUNT Work in Process—Baking Department | ACCOUNT NO. | |||||||
| Date | Item | Debit | Credit | Balance | ||||
| Debit | Credit | |||||||
| Dec. | 1 | Bal., 7,800 units, 2/5 completed | 13,728 | |||||
| 31 | Direct materials, 140,400 units | 210,600 | 224,328 | |||||
| 31 | Direct labor | 63,920 | 288,248 | |||||
| 31 | Factory |
35,956 | 324,204 | |||||
| 31 | Goods finished, 142,200 units | 312,684 | 11,520 | |||||
| 31 | Bal., ? units, 3/5 completed | 11,520 |
a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent.
| 1. Direct materials cost per equivalent unit | $fill in the blank 1 |
| 2. Conversion cost per equivalent unit | $fill in the blank 2 |
| 3. Cost of the beginning work in process completed during December | $fill in the blank 3 |
| 4. Cost of units started and completed during December | $fill in the blank 4 |
| 5. Cost of the ending work in process | $fill in the blank 5 |
b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?
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