The following information concerns production in the Baking Department for December All direct materials are placed in process at the beginning of production ACCOUNT Work in ProcessBaking Department ACCOUNT NO Date Item Debit Credit Balance Debit Credit Dec 1 Bal , 7,800 units, 2 5 completed 15,288 31 Direct materials, 140,400 units 238,680 253,968 31 Direct labor 64,460 318,428 31 Factory overhead 36,256 354,684 31 Goods finished, 142,200 units 341,124 13,560 31 Bal , units, 4 5 completed 13,560 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 December $ 4 Cost of units started and completed during December $ 5 Cost of the ending work in process $ b Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December

The Answer is in the image, click to view ...

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 18, 2024

The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work

The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production.

ACCOUNT Work in ProcessBaking Department					ACCOUNT NO.
Date		Item	Debit	Credit	Balance
Date		Item	Debit	Credit	Debit	Credit
Dec.	1	Bal., 7,800 units, 2/5 completed			15,288
	31	Direct materials, 140,400 units	238,680		253,968
	31	Direct labor	64,460		318,428
	31	Factory overhead	36,256		354,684
	31	Goods finished, 142,200 units		341,124	13,560
	31	Bal., ? units, 4/5 completed			13,560

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 December	$
4. Cost of units started and completed during December	$
5. Cost of the ending work in process	$

b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?