Analyze flow of costs through inventory T-accounts (Learning Objective 1) Healthy Start Bakery mass-produces bread using three

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Analyze flow of costs through inventory T-accounts (Learning Objective 1)

Healthy Start Bakery mass-produces bread using three sequential processing departments: Mixing, Baking, and Packaging. The following transactions occurred during January:

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Requirements 1. Post each of these transactions to the company’s inventory T-accounts. You should set up separate T-accounts for the following:
• Raw Materials Inventory • Work in Process Inventory—Mixing Department • Work in Process Inventory—Baking Department • Work in Process Inventory—Packaging Department • Finished Goods Inventory 2. Determine the balance at month-end ip. each of the inventory accounts.
3. Assume that 3,175,000 loaves of bread were completed and transferred out of the Packaging Department during the month. What was the cost per unit of making each loaf of bread (from start to finish)?

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Managerial Accounting

ISBN: 9780138129712

1st Edition

Authors: Linda Smith Bamber, Karen Wilken Braun, Jr. Harrison, Walter T.

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