Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 ProcessBaking Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
Mar. 1 Bal., 7,800 units, 2/3 completed 17,940
31 Direct materials, 140,400 units 252,720 270,660
31 Direct labor 71,370 342,030
31 Factory overhead 40,150 382,180
31 Goods finished, 142,200 units 369,460 12,720
31 Bal. ? units, 2/5 completed 12,720

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 $

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

Public Sector Accounting And Budgeting For Non-Specialists

Authors: G. Jan Van Helden, Ron Hodges

1st Edition

1137376988, 9781137376985

More Books

Students also viewed these Accounting questions

Question

Solve the system. Use any method you wish. y = 2x + 1 |2x + y = 1

Answered: 1 week ago

Question

=+ Interviews with key people. Which people?

Answered: 1 week ago

Question

=+ Judgmental assessment: personal experience or outside experts?

Answered: 1 week ago

Question

=+ On what criteria should the program be judged? 9

Answered: 1 week ago