oad Assignment: Module 4 E x* CengageNoWv2 | Online teachin xcakeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionlocator=&inprogress-falseeBookShow Me HowCosts per Equivalent UnitThe following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking DepartmentACCOUNT NO.DateItemBalanceDebitCreditDebitCreditMar.1 Bal., 7,500 units, 2/5 completed15,75031 Direct materials, 135,000 units243,000258,75031 Direct labor69,670328,42031 Factory overhead39,194367,61431 Goods finished, 136,800 units355,53012,08431 Bal. ? units, 2/5 completed12,084a. 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 unit2. Conversion cost per equivalent unit3. Cost of the beginning work in process completed during March4. Cost of units started and completed during March5. Cost of the ending work in processb. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase, decrease, or remain the same in March?Check My WorkPreviousNext>All work saved.Save and ExitSubmit Assignment for Grading9:50 PM78°F ClearA 41) O G9/9/2021BANG

The total cost of producing a product, including raw materials and operating costs, is detailed in a…

Answered: Costs per Equivalent Unit The following…

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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The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item August 1 Bal., 9,000 units, 2/5 completed 31 Direct materials, 162,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 164,100 units 31 Bal., ? units, 4/5 completed Line Item Description Inventory in process, August 1 Started and completed in August Transferred to finished goods in August Inventory in process, August 31 Total Debit Credit 275,400 74,380 41,834 a. Determine the number of units in work in process inventory at August 31. units 2002 394,380 b. Determine the equivalent units of production for direct materials and conversion costs in August. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For August Whole Units Balance Balance Debit Credit 18,360 293,760 368,140…
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 $18,000 of direct materials. ACCOUNT Work in Process-Forging Department Debit Credit Date Item June 1 Bal., 1,800 units, 60% completed 30 Direct materials, 25,800 units 30 Direct labor 30 Factory overhead 30 Goods transferred, ? units 30 Bal., 2,800 units, 70% completed Cost per equivalent units of $9.60 for Direct Materials and $3.00 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers (a-c) to the nearest dollar. a. Cost of beginning work in process inventory completed in June $ 247,680 43,300 33,740 b. Cost of units transferred to the next department during June $ c. Cost of ending work in process…
Costs per Equivalent Unit The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. Date Item Debit Credit BalanceDebit BalanceCredit August 1 Bal., 8,700 units, 3/5 completed 14,181 31 Direct materials, 156,600 units 203,580 217,761 31 Direct labor 59,950 277,711 31 Factory overhead 33,722 311,433 31 Goods finished, 158,700 units 301,269 10,164 31 Bal., ? units, 2/5 completed 10,164 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. Line Item Description Amount 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 August $fill in the blank 3 4. Cost of units started and completed during August $fill in the blank 4 5. Cost…
Equivalent Units of Production: Weighted average method The following information concerns production in the Finishing Department for May. The Finishing Department uses the Weighted average method. ACCOUNT Work in Process—Finishing Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit May 1 Bal., 11,200 units, 80% completed 67,200 31 Direct materials, 54,900 units 200,934 268,134 31 Direct labor 124,600 392,734 31 Factory overhead 126,600 519,334 31 Goods transferred, 58,200 units 499,356 19,978 31 Bal., ? units, 30% completed 19,978 a. Determine the number of units in work in process inventory at the end of the month.fill in the blank 1 units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Assume that direct materials are placed in process during production. Whole units to be…
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 7,000 units, 35% completed 15,225 To Finished Goods, 161,000 units Direct materials, 165,000 units @ $1.3 214,500 Direct labor 318,900 Factory overhead 124,035 Bal. ? units, 50% completed a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. $ 1. Cost of beginning work in process inventory completed this period. $ 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? c. Assuming that the direct materials…
The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. Date Item Debit Credit BalanceDebit BalanceCredit August 1 Bal., 8,400 units, 2/5 completed 19,656 31 Direct materials, 151,200 units 302,400 322,056 31 Direct labor 88,540 410,596 31 Factory overhead 49,808 460,404 31 Goods finished, 153,300 units 444,402 16,002 31 Bal., ? units, 3/5 completed 16,002 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. Line Item Description Amount 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during August 4. Cost of units started and completed during August 5. Cost of the ending work in process
Equivalent Units of Production The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit March 1 Bal., 6,000 units, 4/5 completed 24,000 31 Direct materials, 108,000 units 216,000 240,000 31 Direct labor 61,860 301,860 31 Factory overhead 34,800 336,660 31 Goods finished, 109,500 units 325,230 11,430 31 Bal. ? units, 3/5 completed 11,430 a. Determine the number of units in work in process inventory at March 31.fill in the blank e90ad102cfba051_1 units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March…
The following information concerns production in the Finishing Department for May. The Finishing Department uses the Weighted average method. ACCOUNT Work in Process-Finishing Department ACCOUNT NO. Date Item Debit Credit Balance Debit Balance Credit May 1 Bal., 21,500 units, 65% completed 107,500 31 Direct materials, 105, 400 units 321,470 428,970 31 Direct labor 199, 300 628,270 31 Factory overhead 202, 500 830, 770 31 Goods transferred, 111,800 units 799, 370 31,400 31 Bal., ? units, 35% completed 31,400 a. Determine the number of units in work in process inventory at the end of the month. fill in the blank 1 of 1 units b. Determine the number of whole units to be accounted for and to be assigned costs and the equivalent units of production for May. Assume that direct materials are placed in process during production. Line Item Description Units Whole units to be accounted for fill in the blank 1 of 3 units Whole units to be assigned costs fill in the blank 2 of 3 units Equivalent…
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 5,100 units, 1/3 completed 11,645 31 Direct materials, 91,800 units 183,600 195,245 31 Direct labor 53,940 249,185 31 Factory overhead 30,336 279,521 31 Goods finished, 93,000 units 269,615 9,906 31 Bal. ? units, 3/5 completed 9,906 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 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase,…
Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. 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 $33,320 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 3,400 units, 70% completed 38,080 30 Direct materials, 31,000 units 294,500 332,580 30 Direct labor 28,000 360,580 30 Factory overhead 38,675 ? 399,255 30 Goods finished, ? units ? 30 Bal., 2,700 units, 90% completed ? Cost per equivalent units of $9.50 for Direct Materials and $2.10 for Conversion Costs. Based on the above data, determine each of the following amounts. If required, round your interim calculations to two decimal places. Round final answers…
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item Balance Debit Credit Debit Credit Mar. 1 Bal., 5,100 units, 4/5 completed 11,322 31 Direct materials, 91,800 units 156,060 167,382 31 Direct labor 41,230 208,612 31 Factory overhead 23,198 231,810 31 Goods finished, 93,000 units 222,996 8,814 31 Bal. ? units, 4/5 completed 8,814 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 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase,…
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT No. Balance Date Item Debit Credit Debit Credit 1 Bal., 5,400 units, 1/3 completed Mar. 11,610 31 Direct materials, 97,200 units 184,680 196,290 31 Direct labor 50,750 247,040 31 Factory overhead 28,546 275,586 31 Goods finished, 98,400 units 265,590 9,996 31 Bal. ? units, 3/5 completed 9,996 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 2. Conversion cost per equivalent unit 0.8 3. Cost of the beginning work in process completed during March 4. Cost of units started and completed during March 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivaient unit increase,…

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