Work in Process—Baking Department Bal., 3,200 units, 60% completed 4,992 To Fini

Question

Work in Process—Baking Department Bal., 3,200 units, 60% completed 4,992

To Finished Goods, 23,000 units

Direct materials, 23,400 units 53,352

Direct labor 26,015

Factory overhead 13,401

Bal., 3,600 units, 40% completed ? If required, round cost per equivalent unit answer to two decimal places.

a. Determine the number of whole units to be accounted for and to be assigned costs. units

b. Determine the number of equivalent units of production. units

c. Determine the cost per equivalent unit. $ per equivalent unit

d. Determine the cost of the units transferred to Finished Goods. $

e. Determine the cost of units in ending Work in Process. $

Explanation / Answer

Cost of Prduction report Equivalent Units Flow Of Units Physical Units Direct Material Conversion Cost Units to be accounted for Beginning work in process inventory 3200 Units started this period 23400 Total u nits to be accounted for   Ans A 26600 Units accounnted for: Completed and transferred out (b) 23000 23000 23000 Ending work in progress inventory© 3600 3600 1440 Total units to be accounted for (f)     Ans B 26600 26600 24440 Flow of Cost Cost in the begnning work in progress inventory 4992 4992 Cost added in current period 92768 53352 39416 Total Cost to be accounted for (e)    Ans C 97760 58344 39416 Cost per equivalent unit (a)    (e/f) Ans C 3.81 2.19 1.61 Cost accounted for Cost assigned to units transferred out (a*b) Ans E 87541.4 50447.82 37093.62 Cost in ending work in progress inventory (a*c) Ans F 10218.6 7896.18 2322.38 Total Cost accounted for    97760.00 58344.00 39416.00 Note Opening WIP cost given in Lumpsum, if given seprately for material and conversion cost than that needs to be entered

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