Answered step by step
Verified Expert Solution
Link Copied!

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

image text in transcribed

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. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 8,700 units, 2/5 completed 14,094 31 Direct materials, 156,600 units 219,240 233,334 31 Direct labor 31 Factory overhead 60,620 34,096 293,954 328,050 31 Goods finished, 158,700 units 317,226 31 Bal. ? units, 2/5 completed 10,824 10,824 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. 1.40 V 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

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting and Reporting a Global Perspective

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

4th edition

978-1408066621, 1408066629, 1408076861, 978-1408076866

More Books

Students also viewed these Accounting questions

Question

What are the different techniques used in decision making?

Answered: 1 week ago