The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginni ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 18,000 units, 1/4 completed 14,760 31 Direct materials, 336,000 units 252,000 266,760 31 Direct labor 40,000 306,760 31 Factory overhead 60,530 367,290 31 Goods finished, 330,000 units 346,410 20,880 31 Bal. ? units, 2/5 completed 20,880 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. 2$ 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.

The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginni ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 18,000 units, 1/4 completed 14,760 31 Direct materials, 336,000 units 252,000 266,760 31 Direct labor 40,000 306,760 31 Factory overhead 60,530 367,290 31 Goods finished, 330,000 units 346,410 20,880 31 Bal. ? units, 2/5 completed 20,880 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. 2$ 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.

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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 beginniACCOUNT Work in Process-Baking DepartmentACCOUNT NO.BalanceDateItemDebitCreditDebitCreditMar.1 Bal., 18,000 un

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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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,…
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