Date Item Debit Credit August 1 Bal., 5,100 units, 2/5 completed 31 Direct materials, 91,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 93,000 units 31 Bal., 2 units, 2/5 completed 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 W 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 $ b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per equivalent unit increase, decrease, or remain th same in August? 183,600 53,290 29,978 Balance Balance Debit Credit 269,598 11,934 195,534 248,824 278,802 9,204 9,204

Date Item Debit Credit August 1 Bal., 5,100 units, 2/5 completed 31 Direct materials, 91,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 93,000 units 31 Bal., 2 units, 2/5 completed 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 W 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 $ b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per equivalent unit increase, decrease, or remain th same in August? 183,600 53,290 29,978 Balance Balance Debit Credit 269,598 11,934 195,534 248,824 278,802 9,204 9,204

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

Date
Item
Debit Credit
August 1 Bal., 5,100 units, 2/5 completed
31 Direct materials, 91,800 units
31 Direct labor
31 Factory overhead
31 Goods finished, 93,000 units
31 Bal., 2 units, 2/5 completed
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
W
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
$
b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per equivalent unit increase, decrease, or remain th
same in August?
183,600
53,290
29,978
Balance Balance
Debit
Credit
269,598
11,934
195,534
248,824
278,802
9,204
9,204

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