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.: 7,500 units, 3/5 completed 12,975 31 Direct materials, 135,000 units 189,000 201,975 31 Direct labor 52,550 254,525 31 Factory overhead 29.566 284,091 31 Goods finished, 136,800 units 278,375 10,716 31 Bal. ? units, 4/5 completed 10,716 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit answers to the nearest cent. s 1. Direct materials cost per equivalent unit S 2. Conversion cost per equivalent unit s B. Cost of the beginning work in process completed during March 5 4. Cost of units started and completed during March 5 s 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? Cost of Production and Journal Entries AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 700 pounds of alloy in process, which were 70% complete as to conversion. The Work in Process balance for these 700 pounds was $63,840, determined as follows: Direct materials (700 x $80) $56,000 Conversion (700 X 70% x $16) 7 840 $63,840 During May, the Casting Department was charged $501,600 for 6,600 pounds of alloy and $39,660 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 6,800 pounds of finished castings to the Machining Department. The May 31 inventory in process was 60% complete as to conversion. al. Prepare the May journal entry for the Casting Department for the materials charged to production. If an amount box does not require an entry, leave it blank. a 2. Prepare the May journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department. If an amount box does not require an entry, leave it blank. b. Determine the work in Process Casting Department May 31 balance Previous department transferred out 6,800 pounds of finished castings to the Machining Department. The May 31 inventory in process was 600 LUMDIEL a1. Prepare the May journal entry for the Casting Department for the materials charged to production. If an amount box does not require an entry, leave it blank. a 2. Prepare the May journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. 110 101 10 a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department. If an amount box does not require an entry, leave it blank. b. Determine the Work in Process Casting Department May 31 balance. c. Compute the change in the costs per equivalent unit for direct materials and conversion from the previous month (April). Cost per Equivalent Unit Change in materials Change in conversion Previous Check My Work 4more Check My Work uses remaining Save and Edt Submit Assignment for Grading All work saved 6:57 PM