ACCOUNT Work in Process—Baking DepartmentACCOUNT NO.DateItemDebitCreditBalanceDebitCreditDec.1Bal., 7,800 units, 2/5 completed 13,728 31Direct materials, 140,400 units210,600 224,328 31Direct labor63,920 288,248 31Factory overhead35,956 324,204 31Goods finished, 142,200 units 312,684 11,520 31Bal., ? 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$fill in the blank 12. Conversion cost per equivalent unit$fill in the blank 23. Cost of the beginning work in process completed during December$fill in the blank 34. Cost of units started and completed during December$fill in the blank 45. Cost of the ending work in process$fill in the blank 5b. 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?

Computation of equivalent unit of production during December for baking department Units…

Answered: ACCOUNT Work in Process—Baking…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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?

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