osts per Equivalent Unit The following information concerns production in the Ba
ID: 2516441 • Letter: O
Question
osts 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.
a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent.
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 8,100 units, 3/5 completed 20,331 31 Direct materials, 145,800 units 291,600 311,931 31 Direct labor 84,400 396,331 31 Factory overhead 47,468 443,799 31 Goods finished, 147,600 units 427,797 16,002 31 Bal. ? units, 3/5 completed 16,002Explanation / Answer
Cost of Production Report-Baking Department For the Month Ended March 31 Unit Information Units charged to production: Inventory in process, March 1 8100 Received from materials storeroom 145800 Total units accounted for by the Baking Department 153900 Units to be assigned costs: Equivalent Units Whole Units Direct Materials Conversion Inventory in process, March 1 8100 0 3240 Started and completed in March 139500 139500 139500 Transferred to Packing Department in March 147600 139500 142740 Inventory in process, March 31 6300 6300 3780 Total units to be assigned costs 153900 145800 146520 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for March in Baking Department 291600 131868 Total equivalent units 145800 146520 Cost per equivalent unit 2 0.9 Costs charged to production: Direct Materials Conversion Total Inventory in process, March 1 20331 Costs incurred in March 423468 Total costs accounted for by the Baking Department 443799 Cost allocated to completed and partially completed units: Inventory in process, March 1 balance 20331 To complete inventory in process, March 1 0 2916 2916 Cost of completed March 1 work in process 23247 Started and completed in March 279000 125550 404550 Transferred to Packing Department in March 427797 Inventory in process, March 31 12600 3402 16002 Total costs assigned by the Baking Department 443799 1. Direct materials cost per equivalent unit = $2 2. Conversion cost per equivalent unit = $0.9 3. Cost of the beginning work in process completed during March = $23247 4. Cost of units started and completed during March = $404550 5. Cost of the ending work in process = $16002
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.