Question
Can you please provide the answer on the attached excel spreadsheet as I would like to be able to work through the steps. Thank you!
Can you please provide the answer on the attached excel spreadsheet as I would like to be able to work through the steps. Thank you!
Question:
The charges to Work in Process - Baking Department for a period and information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials are placed in process during production.
Bal. 8,000 units, 70% completed - 12,900
Direct materials, 82,300 units - 161,000
Direct labour - 91,800
Factory overhead - 81,780
Bal. 4,900 units, 30% completed -- ??
To Finished Goods, 85,400 units
Determine the following:
a. The number of whole units to be accounted for and to be assigned costs
b. The number of equivalent units of production
c. The cost per equivalent unit
d. The cost of the units transferred to Finished Goods
e. The cost of ending Work in Process
Company:__________________________________________________ Cost of Production Report For the month ended _______________________________________ Step 1 Whole Units Step 2 Equivalent Units Direct Materials Conversion Costs UNITS Units Charged to Production: Inventory in process - beginning of the period Received from Materials storeroom Total Units accounted for by the Dept. Units to be assigned costs: Inventory in Process, beginning ( Started and completed in the period Transferred out in the period Inventory in Process, ending ( Total Units to be Assigned Costs % complete) % complete) COSTS Costs per equivalent unit Total Costs for the period in the Department Total Equivalent Units from Step 2 above Costs per Equivalent Unit Costs Conversion Costs Direct Material Total $ +$ $ = $ +$ = $ +$ = Costs assigned to Production: Inventory in Process, beginning Costs incurred in the period Total Costs to be Accounted for by the Department Cost allocation to completed and partially completed units Inventory in Process, beginning Costs to complete beginning Inventory in Process Cost of Completed beginning Inventory in Process Started and completed in the period Transferred out in the period Inventory in Process at end of period Total Costs Assigned by the DepartmentStep by Step Solution
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