The charges to Work in Process-Baking Department for a period as well as informa

Question

The charges to Work in Process-Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials are placed in process during production Work in Process-Baking Department 4,140 To Finished Goods, 14,400 units 44,092 23,155 11,929 Bal., 2,000 units, 40% completed Direct materials, 14,600 units Direct labor Factory overhead Bal, 2,200 units, 60% 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

a Number of whole units to be accounted for=2000+14600 = 16600 b Number of equivalent units=(16600-2200)+(2200*60%)= 15720 c Cost per equivalent unit=(4140+44092+23155+11929)/15720= $5.3 d Cost of units transferred=(16600-2200)*5.3= $76320 e Cost of ending work in process=(2200*60%)*5.3= $6996

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