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. Debit Credit Date Item August 1 Bal., 6,300 units, 4/5 completed 31 Direct materials, 113,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 114,900 units 31 Bal., ? units, 3/5 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 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 226,800 64,940 36,526 Balance Balance Debit Credit 332,958 16,884 243,684 308,624 345,150 12,192 12,192 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 sam August?

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. Debit Credit Date Item August 1 Bal., 6,300 units, 4/5 completed 31 Direct materials, 113,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 114,900 units 31 Bal., ? units, 3/5 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 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 226,800 64,940 36,526 Balance Balance Debit Credit 332,958 16,884 243,684 308,624 345,150 12,192 12,192 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 sam August?

Name: Costs per Equivalent UnitThe following information concerns productio
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Description: Costs per Equivalent UnitThe 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 DepartmentACCOUNT NO.DateDebit Credi

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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Costs per Equivalent Unit The 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 Date Item Debit Credit 161,460 47,970 26,982 ACCOUNT NO. 239,193 Balance Debit Dec. 1 Bal., 6,900 units, 3/5 completed 31 Direct materials, 124,200 units 31 Direct labor 31 Factory overhead 31 Goods finished, 126,000 units 31 Bal., ? units, 3/5 completed a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. Credit 11,247 172,707 220,677 247,659 8,466 8,466 00000 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for November and December, did the…
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…
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…
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 Bal., 8,400 units, 3/5 completed 26,880 31 Direct materials, 151,200 units 241,920 268,800 31 Direct labor 68.110 336,910 31 Factory overhead 38,318 375,228 31 Goods finished, 153,300 units 362,502 12,726 31 Bal. ? units, 3/5 completed 12,726 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 box does not require an entry, leave it blank. Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs Costs For March Direct Materials Conversion Equivalent Equivalent Whole Units Units Units Inventory in process, March 1 Started and…
Costs per Equivalent Unit The 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 Date Dec. Item 1 Bal., 6,600 units, 3/5 completed 31 Direct materials, 118,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 120,300 units 31 Bal., ? units, 3/5 completed Debit 190,080 53,490 30,090 Credit 276,492 ACCOUNT NO. Balance Debit 13,134 203,214 256,704 286,794 10,302 10,302 Credit 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 December 4. Cost of units started and completed during December 5. Cost of the ending work in process . Assuming that the direct materials cost is the same for November and December, did the…
Equivalent Units of Production 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 Date Item August 1 Bal., 8,100 units, 3/5 completed 31 Direct materials, 145,800 units 31 Direct labor 31 Factory overhead 31 Goods finished, 147,600 units 31 Bal., ? units, 4/5 completed Debit Credit 291,600 85,120 47,882 ACCOUNT NO. 420,426 Balance Balance Debit Credit 12,960 304,560 389,680 437,562 17,136 17,136 a. Determine the number of units in work in process inventory at August 31. units
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
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,…
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 December. 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 Dec. 1 Bal., 4,500 units, 3/5 completed 8,955 31 Direct materials, 81,000 units 129,600 138,555 31 Direct labor 36,210 174,765 31 Factory overhead 20,364 195,129 31 Goods finished, 82,200 units 188,925 6,204 31 Bal., ? units, 2/5 completed 6,204 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 1.6 2. Conversion cost per equivalent unit .7 3. Cost of the beginning work in process completed during December $fill in the blank 3 4. Cost of units started and completed during December $fill in the blank 4 5. Cost of the…