ACCOUNT Work in Process-Baking Department ACCOUNT NO Balance Date Item Debit Cre

Question

ACCOUNT Work in Process-Baking Department ACCOUNT NO Balance Date Item Debit Credit Debit Credit 14,760 266,760 306,760 367,290 346,410 20,880 20,880 Mar 1 Bal., 18,000 units, completed 31 Direct materials, 336,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 330,000 units 31 Bal. units, s completed 252,000 40,000 60,530 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?

Explanation / Answer

Equivalent Units Whole Units Direct Materials Conversion Inventory in process, March 1 18000 0 13500 Started and completed in March 312000 312000 312000 Transferred to Packing Department in March 330000 312000 325500 Inventory in process, March 31 24000 24000 9600 Total units to be assigned costs 354000 336000 335100 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for March in Baking Department 252000 100530 Total equivalent units 336000 335100 Cost per equivalent unit 0.75 0.3 Costs charged to production: Direct Materials Conversion Total Inventory in process, March 1 14750 Costs incurred in March 352530 Total costs accounted for by the Baking Department 367280 Cost allocated to completed and partially completed units: Inventory in process, March 1 balance 14750 To complete inventory in process, March 1 0 4050 4050 Cost of completed March 1 work in process 18800 Started and completed in March 234000 93600 327600 Transferred to Packing Department in March 346400 Inventory in process, March 31 18000 2880 20880 Total costs assigned by the Baking Department 367280 1 Direct materials cost per equivalent unit $0.75 2 Conversion cost per equivalent unit $0.3 3 Cost of beginning work in process completed $18800 4 Cost of units started and completed $327600 5 Cost of ending work in process $20880 b Increase

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