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. ### Production Information for the Baking Department - MarchThe following details provide insights into the production activities for the Baking Department during March. All direct materials are placed into process at the start of the production.#### ACCOUNT Work in Process—Baking Department| Date | Item | Debit | Credit | Balance | ACCOUNT NO. ||------|-------------------------------------------|---------|----------|--------------------|-------------|| Mar. 1 | Bal., 18,000 units, 1/4 completed | | | 14,760 | || Mar. 31 | Direct materials, 336,000 units | 252,000 | | 266,760 | || | Direct labor | 40,000 | | 306,760 | || | Factory overhead | 60,530 | | 367,290 | || | Goods finished, 330,000 units | | 346,410 | 20,880 | || | Bal., ? units, 2/5 completed | | | 20,880 | |#### Explanation:- **Date**: Indicates the transaction date.- **Item**: Describes the type of transaction.- **Debit and Credit**: Financial entries for the respective transactions.- **Balance**: Shows the financial status after each transaction.- **Units Completed**: Calculate the units completed at each stage.In this period:1. The process begins with a balance of 18,000 units, 1/4 complete, on March 1.2. Direct materials of 336,000 units are added on March 31, contributing to a debit entry of 252,000.3. Direct labor costs of 40,000 and factory overhead costs of 60,530 are also recorded on March 31.4. The balance after these costs is 367,290.5. Finished goods amount to 330,000 units, resulting in a credit of 346,410, leaving the ending balance of work in process at 20,880.This helps to track the flow and costs associated with production within the Baking Department for March.

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Description: 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. ### Pr

Cost per equivalent unit is computed by dividing the total cost by the total equivalent units. The…

Business

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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., 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

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., 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

FINANCIAL ACCOUNTING

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ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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