Question
29. Equivalent Units of Production and Related Costs The charges to Work in ProcessBaking Department for a period as well as information concerning production are
29.
-
Equivalent Units of Production and Related Costs
The charges to Work in ProcessBaking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials are placed in process during production.
Work in ProcessBaking Department Bal., 3,200 units, 60% completed 4,992 To Finished Goods, 23,000 units ? Direct materials, 23,400 units 53,352 Direct labor 26,015 Factory overhead 13,401 Bal., 3,600 units, 40% completed ? If required, round cost per equivalent unit answer to two decimal places.
a. Determine the number of whole units to be accounted for and to be assigned costs. fill in the blank 1 units
b. Determine the number of equivalent units of production. fill in the blank 2 units
c. Determine the cost per equivalent unit. $fill in the blank 3 per equivalent unit
d. Determine the cost of the units transferred to Finished Goods. $fill in the blank 4
e. Determine the cost of units in ending Work in Process. $fill in the blank 5
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started