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., 5,400 units, 2/3 completed 9,000 31 Direct materials, 97,200 units 126,360 135,360 31 Direct labor 37,370 172,730 31 Factory overhead 21,022 193,752 31 Goods finished, 98,400 units 186,780 6,972 31 Bal. ? units, 3/5 completed 6,972 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, decrease, or remain the same in March?

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., 5,400 units, 2/3 completed 9,000 31 Direct materials, 97,200 units 126,360 135,360 31 Direct labor 37,370 172,730 31 Factory overhead 21,022 193,752 31 Goods finished, 98,400 units 186,780 6,972 31 Bal. ? units, 3/5 completed 6,972 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, decrease, or remain the same in March?

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Description: The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. Costs per Equivalent UnitThe following information concerns production in the Baking Departme

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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