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., 6,000 units, 4/5 completed 12,120 31 Direct materials, 108,000 units 162,000 174,120 31 Direct labor 48,520 222,640 31 Factory overhead 27,290 249,930 31 Goods finished, 109,500 units 240,660 9,270 31 Bal., ? units, 4/5 completed 9,270 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 $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 December $fill in the blank 3 4. Cost of units started and completed during December $fill in the blank 4 5. Cost of the ending work in process $fill in the blank 5
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., 6,000 units, 4/5 completed 12,120 31 Direct materials, 108,000 units 162,000 174,120 31 Direct labor 48,520 222,640 31 Factory overhead 27,290 249,930 31 Goods finished, 109,500 units 240,660 9,270 31 Bal., ? units, 4/5 completed 9,270 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 $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 December $fill in the blank 3 4. Cost of units started and completed during December $fill in the blank 4 5. Cost of the ending work in process $fill in the blank 5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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., 6,000 units, 4/5 completed | 12,120 | |||||
| 31 | Direct materials, 108,000 units | 162,000 | 174,120 | |||||
| 31 | Direct labor | 48,520 | 222,640 | |||||
| 31 | Factory |
27,290 | 249,930 | |||||
| 31 | Goods finished, 109,500 units | 240,660 | 9,270 | |||||
| 31 | Bal., ? units, 4/5 completed | 9,270 |
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 | $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 December | $fill in the blank 3 |
| 4. Cost of units started and completed during December | $fill in the blank 4 |
| 5. Cost of the ending work in process | $fill in the blank 5 |
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