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., 9,300 units, 2/5 completed 15,066 31 Direct materials, 167,400 units 234,360 249,426 31 Direct labor 64,770 314,196 31 Factory overhead 36,426 350,622 31 Goods finished, 169,500 units 338,814 11,808 31 Bal., ? units, 2/5 completed 11,808 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
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., 9,300 units, 2/5 completed 15,066 31 Direct materials, 167,400 units 234,360 249,426 31 Direct labor 64,770 314,196 31 Factory overhead 36,426 350,622 31 Goods finished, 169,500 units 338,814 11,808 31 Bal., ? units, 2/5 completed 11,808 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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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., 9,300 units, 2/5 completed 15,066 31 Direct materials, 167,400 units 234,360 249,426 31 Direct labor 64,770 314,196 31 Factory overhead 36,426 350,622 31 Goods finished, 169,500 units 338,814 11,808 31 Bal., ? units, 2/5 completed 11,808 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 b. 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 December?
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