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 March. All direct materials are...

50.1K

Verified Solution

Question

Accounting

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., 5,700 units, 4/5 completed 13,680
31 Direct materials, 102,600 units 184,680198,360
31 Direct labor 52,250250,610
31 Factory overhead 29,398280,008
31 Goods finished, 104,100 units 270,4329,576
31 Bal. ? units, 3/5 completed 9,576
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 $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 March $fill in the blank 3
4. Cost of units started and completed during March $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 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