Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. costs per equivalent unit the following informatio

Costs per Equivalent Unit The following information concerns production in the Baking Department for March....

50.1K

Verified Solution

Question

Accounting

Costs 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.

ACCOUNT Work in ProcessBaking Department ACCOUNT NO.
Date Item Debit Credit Balance
Debit Credit
Mar. 1 Bal., 5,100 units, 3/5 completed 11,475
31 Direct materials, 91,800 units 165,240 176,715
31 Direct labor 46,850 223,565
31 Factory overhead 26,350 249,915
31 Goods finished, 93,000 units 241,647 8,268
31 Bal. ? units, 2/5 completed 8,268

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?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students