Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information concerns production in t

The following information concerns production in the Baking Department for August. All direct materials are...

60.1K

Verified Solution

Question

Accounting

The following information concerns production in the Baking Department for August. 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 Balance
Credit
August 1 Bal., 9,300 units, 3/5 completed 20,925
31 Direct materials, 167,400 units 301,320322,245
31 Direct labor 85,400407,645
31 Factory overhead 48,040455,685
31 Goods finished, 169,500 units 440,42115,264
31 Bal., ? units, 2/5 completed 15,264
a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent.
Line Item Description Amount
1. Direct materials cost per equivalent unit $fill in the blank 1
2. Conversion cost per equivalent unit $fill in the blank 2
3. Cost of the beginning work in process completed during August $fill in the blank 3
4. Cost of units started and completed during August $fill in the blank 4
5. Cost of the ending work in process $fill in the blank 5
b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per equivalent unit increase, decrease, or remain the same in August?

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