February Cost Analysis Determine the cost per unit of direct materials and for conversion for the month of February using the completed data on the Cost of Production. Round your per-unit computations to the nearest cent, if required. Cost Analysis for February - Mixing Department Amount Equivalent Units Cost per Unit Direct Materials in inventory in process, March 1 Conversion costs in inventory in process, March 1

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Total costs accounted for by the Mixing Department
$80,150
Cost allocated to completed and partially completed units:
Inventory in process, March 1-balance
$2,725
To complete inventory in process, March 1
1,235
1,235
Cost of completed March 1 work in process
$3,960
Started and completed in March
37,450
33,250
70,700
Transferred to Baking Department in March
74,660
Inventory in process, March 31
3,210
2,280
5,490
Total costs assigned by the Mixing Department
80,150
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Check My Work
Review the format and the steps to complete the Cost of Production Report.
February Cost Analysis
Determine the cost per unit of direct materials and for conversion for the month of February using the completed data on the Cost of Production. Round your per-unit
computations to the nearest cent, if required.
Cost Analysis for February - Mixing Department
Amount
Equivalent Units
Cost per Unit
Direct Materials in inventory in process, March 1
Conversion costs in inventory in process, March 1
Transcribed Image Text:Total costs accounted for by the Mixing Department $80,150 Cost allocated to completed and partially completed units: Inventory in process, March 1-balance $2,725 To complete inventory in process, March 1 1,235 1,235 Cost of completed March 1 work in process $3,960 Started and completed in March 37,450 33,250 70,700 Transferred to Baking Department in March 74,660 Inventory in process, March 31 3,210 2,280 5,490 Total costs assigned by the Mixing Department 80,150 Feedback Check My Work Review the format and the steps to complete the Cost of Production Report. February Cost Analysis Determine the cost per unit of direct materials and for conversion for the month of February using the completed data on the Cost of Production. Round your per-unit computations to the nearest cent, if required. Cost Analysis for February - Mixing Department Amount Equivalent Units Cost per Unit Direct Materials in inventory in process, March 1 Conversion costs in inventory in process, March 1
Inventory in process, March 1
2,000
Received from materials storeroom
38,000
Total units accounted for by the Mixing Department
40,000
Units to be assigned costs:
Equivalent Units
Whole
Direct
Units
Materials
Conversion
Inventory in process, March 1 (35% completed)
2,000
1,300
Started and completed in March
35,000
35,000
35,000
Transferred to Baking Department in March
37,000
35,000
36,300
Inventory in process, March 31 (80% completed)
3,000
3,000
2,400
Total units to be assigned costs
40,000
38,000
38,700
Cost Information
Cost per equivalent unit:
Direct
Materials
Conversion
Total costs for March in Mixing Department
$40,660
$36,765
Total equivalent units
38,000
38,700
$4
1.07
0.95
Cost per equivalent unit
Costs assigned to production:
Direct
Materials
Conversion
Total
Inventory in process, March 1
$2,200
$525
$2,725
Costs incurred in March
77,425
Transcribed Image Text:Inventory in process, March 1 2,000 Received from materials storeroom 38,000 Total units accounted for by the Mixing Department 40,000 Units to be assigned costs: Equivalent Units Whole Direct Units Materials Conversion Inventory in process, March 1 (35% completed) 2,000 1,300 Started and completed in March 35,000 35,000 35,000 Transferred to Baking Department in March 37,000 35,000 36,300 Inventory in process, March 31 (80% completed) 3,000 3,000 2,400 Total units to be assigned costs 40,000 38,000 38,700 Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for March in Mixing Department $40,660 $36,765 Total equivalent units 38,000 38,700 $4 1.07 0.95 Cost per equivalent unit Costs assigned to production: Direct Materials Conversion Total Inventory in process, March 1 $2,200 $525 $2,725 Costs incurred in March 77,425
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