The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production.DateItemDebitCreditBalanceDebitBalanceCreditAugust 1Bal., 6,300 units, 4/5 completed 16,884 31Direct materials, 113,400 units226,800 243,684 31Direct labor64,390 308,074 31Factory overhead36,212 344,286 31Goods finished, 114,900 units 332,95811,328 31Bal., ? units, 2/5 completed 11,328 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent.Line Item DescriptionAmount1. 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 August$fill in the blank 34. Cost of units started and completed during August$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 July and August, did the conversion cost per equivalent unit increase, decrease, or remain the same in August?

Explanation of Process Costing Concepts and CalculationsKey Concepts**Process Costing**: A costing…

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7E: The following information concerns production in the Baking Department for December. All direct...

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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.

Date	Item	Debit	Credit	Balance Debit
August 1	Bal., 6,300 units, 4/5 completed			16,884
31	Direct materials, 113,400 units	226,800		243,684
31	Direct labor	64,390		308,074
31	Factory overhead	36,212		344,286
31	Goods finished, 114,900 units		332,958	11,328
31	Bal., ? units, 2/5 completed			11,328

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 of the ending work in process	$fill in the blank 5

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 the same in August?

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