Costs per Equivalent UnitThe following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking DepartmentACCOUNT NO.BalanceDateItemDebitCreditDebitCreditDec.1 Bal., 8,400 units, 4/5 completed15,45631 Direct materials, 151,200 units31 Direct labor211,680227,13657,250284,38631 Factory overhead32,210316,59631 Goods finished, 153,300 units306,26431 Bal., ? units, 2/5 completed10,33210,332a. 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 unit1.4✓2. Conversion cost per equivalent unit0.603. Cost of the beginning work in process completed during December$ 162,036 X4. Cost of units started and completed during December5. Cost of the ending work in processb. 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 inDecember?

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Description: Costs per Equivalent UnitThe following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking DepartmentACCOUNT NO.BalanceDateIt

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he following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance ate Item Debit Credit Debit Credit ec. 1 Bal., 8,400 units, 4/5 completed 15,456 31 Direct materials, 151,200 units 211,680 227,136 31 Direct labor 31 Factory overhead 57,250 32,210 284,386 316,596 31 Goods finished, 153,300 units 306,264 10,332 31 Bal., ? units, 2/5 completed 10,332 Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. . Direct materials cost per equivalent unit . Conversion cost per equivalent unit 1.4 0.60 . Cost of the beginning work in process completed during December 162,036 X . Cost of units started and completed during December . Cost of the ending work in process 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 ecember?

he following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance ate Item Debit Credit Debit Credit ec. 1 Bal., 8,400 units, 4/5 completed 15,456 31 Direct materials, 151,200 units 211,680 227,136 31 Direct labor 31 Factory overhead 57,250 32,210 284,386 316,596 31 Goods finished, 153,300 units 306,264 10,332 31 Bal., ? units, 2/5 completed 10,332 Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. . Direct materials cost per equivalent unit . Conversion cost per equivalent unit 1.4 0.60 . Cost of the beginning work in process completed during December 162,036 X . Cost of units started and completed during December . Cost of the ending work in process 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 ecember?

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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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. Balance Date Item Debit Credit Debit Credit March 1 1 Bal., 6,300 units, 2/5 completed 18,900 31 Direct materials, 113,400 units 170,100 189,000 31 Direct labor 52,070 241,070 31 Factory overhead 29,284 270,354 31 Goods finished, 114,900 units 260,466 9,888 31 Bal. ? units, 4/5 completed 9,888 a. Determine the number of units in work in process inventory at March 31. 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 Direct Materials Whole Units Conversion Equivalent Units Equivalent Units Inventory in process, March 1 Started and completed in March…
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