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

80.2K

Verified Solution

Question

Accounting

Costs per Equivalent Unit The following information concernsproduction in the Baking Department for March. All direct materialsare placed in process at the beginning of production. ACCOUNT Workin Process—Baking Department ACCOUNT NO. Date Item Debit CreditBalance Debit Credit Mar. 1 Bal., 5,700 units, 2/3 completed 12,16031 Direct materials, 102,600 units 174,420 186,580 31 Direct labor45,690 232,270 31 Factory overhead 25,696 257,966 31 Goodsfinished, 104,100 units 249,650 8,316 31 Bal. ? units, 2/5completed 8,316 a. Based on the above data, determine each costlisted below. Round "cost per equivalent unit" answers to thenearest cent. 1. Direct materials cost per equivalent unit $ 1.702. Conversion cost per equivalent unit $ 2.40 3. Cost of thebeginning work in process completed during March $ 4. Cost of unitsstarted and completed during March $ 5. Cost of the ending work inprocess $ b. Assuming that the direct materials cost is the samefor February and March, did the conversion cost per equivalent unitincrease, decrease, or remain the same in March?

Answer & Explanation Solved by verified expert

4.3 Ratings (761 Votes)

Equivalent Units Whole Units Direct Materials Conversion Inventory in process March 1 5700 0 1900 Started and completed in March 98400 98400 98400 Transferred to Packing Department in March 104100 98400 100300 Inventory in process March 31 4200 4200 1680 Total units to be assigned costs 108300 102600 See Answer

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