Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning
Costs per Equivalent Unit
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. | ||||||||
Date | Item | Debit | Credit | Balance | |||||
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. | $ |
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?
Step by Step Solution
★★★★★
3.47 Rating (157 Votes )
There are 3 Steps involved in it
Step: 1
la Direct materials cost per equivalent unit 252000336000 075 b Conversion cost per equ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Document Format ( 2 attachments)
60617e48e430c_665.pdf
180 KBs PDF File
60617e48e430c_665.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started