Homework Answers
1. Direct Materials cost per equivalent unit = 1.75
2. Conversion cost per equivalent unit = 4.2
3.
| Beginning WIP | 116700 | |
| Completed this month | 25200 | [6000*4.2] |
| Cost of beginning work in process completed in December | 141900 |
4.
| Direct Materials | 182000 |
| Direct Labor | 436800 |
| Cost of units started and completed during December | 618800 |
5.
| Direct Materials | 52500 |
| Direct Labor | 63000 |
| Cost of the ending WIP | 115500 |
b. Increase
Workings:
| Units to account for | Equivalent units | ||
| WIP, beginning inventory | 24000 | Materials | Conversion |
| Started during the month | 134000 | ||
| Total physical units accounted for | 158000 | ||
| Units processed | |||
| Beginning WIP | 24000 | ||
| Transferred out | 104000 | ||
| Ending WIP | 30000 | ||
| Total physical units accounted for | 158000 | ||
| Units to account for | Units | % of completion | Equivalent units Materials | % of completion | Equivalent units Conversion costs |
| Beginning WIP | 24000 | 25% | 6000 | ||
| Completed | 104000 | 100% | 104000 | 100% | 104000 |
| WIP,ending | 30000 | 100% | 30000 | 50% | 15000 |
| Total | 134000 | 125000 |
| Cost per equivalent unit | |||
| Costs | Materials | Conversion costs | Total |
| Costs added during the current month | 234500 | 525000 | 759500 |
| Divided by :Total EUP | 134000 | 125000 | |
| Cost per equivalent unit | 1.75 | 4.20 | 5.95 |
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ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 116,700...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 24,000 units, 3⁄4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1⁄2 completed 115,500 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...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 24,000 units, 3⁄4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1⁄2 completed 115,500 a. Determine the number of units in work in process inventory at December 31. units Feedback b. Determine the equivalent units of production for direct materials and...
Uite Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, completed 31 Direct materials, 134,000...
Uite Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, completed 31 Direct materials, 134,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 128,000 units 31 Bal., 2 units, Va completed 234,500 150,000 375,000 116,700 351,200 501,200 876,200 115,500 115,500 760,700 a. Determine the number of units in work in process inventory at December 31. units b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter...
The following information concerns production in the Baking Department for December.
Equivalent Units of ProductionObj. 2 The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking Department ACCOUNT NO.DateItemDebitCreditDebitCreditDec.1Bal., 24,000 units, 3//4 completed116,70031Direct materials, 134,000 units234,500351,20031Direct labor150,000501,20031Factory overhead375,000876,20031Goods finished, 128,000 units760,700115,50031Bal., ? units, 1//2 completed115,500a. Determine the number of units in work in process inventory at December 31 .b. Determine the equivalent units of production for direct materials and conversion costs in December.
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All...
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, 3/4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1/2 completed 115,500...
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All...
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., 2 units, completed 115,500 a. Based...
beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit...
beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 18,072 277,272 259,200 75,690 352,962 1 Bal., 7,200 units, 3/5 completed 31 Direct materials, 129,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 131,400 units 31 Bal., ? units, 4/5 completed 42,570 380,844 395,532 14,688 14,688 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials...
ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 69,966 Dec....
ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 69,966 Dec. 1 Bal., 16,900 units, 25% completed 31 Direct materials, 292,400 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 294,900 units 31 Bal., 2 units, 75% completed Required: 687,140 391,474 563,340 757,105 1,148,580 1,711,920 Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process-Roasting Department. Assume that direct materials are placed in process...
L ACCOUNT Work in Process-Baking Department e process at the beginning ACCOUNT NO. hive Date Item...
L ACCOUNT Work in Process-Baking Department e process at the beginning ACCOUNT NO. hive Date Item Balance Debit Credit Debit Credit Mar. 1 Bal., 6,600 units, 2/3 completed 7,040 31 Direct materials, 118,800 units 190,080 197,120 31 Direct labor 52,840 249,960 31 Factory overhead 29,718 279,678 31 Goods finished, 120,300 units 270,090 9,588 31 Bal. 7 units, 2/5 completed 9,588 a. Determine the lumber of units in work in process inventory at March 31 Did you know the lack of...
-Rosting ACCOUNT Work in Proc Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit 79,232...
-Rosting ACCOUNT Work in Proc Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit 79,232 225 9cs 854,940 Dec. Bal., 17.400 units, 7555 completed Direct materias, 307,500 units 31 Direct labor 31 Factory overhead Goods transferred, 310,600 422,037 608,473 1,277,777 1,806,250 31 Bal., 7 units, 255s completed Required: Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process Roasting Department. Assume that direct materials are placed in process during...
Uite Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, completed 31 Direct materials, 134,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 128,000 units 31 Bal., 2 units, Va completed 234,500 150,000 375,000 116,700 351,200 501,200 876,200 115,500 115,500 760,700 a. Determine the number of units in work in process inventory at December 31. units b. Determine the equivalent units of production for direct materials and conversion costs in December. If an amount is zero, enter...
Equivalent Units of ProductionObj. 2 The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking Department ACCOUNT NO.DateItemDebitCreditDebitCreditDec.1Bal., 24,000 units, 3//4 completed116,70031Direct materials, 134,000 units234,500351,20031Direct labor150,000501,20031Factory overhead375,000876,20031Goods finished, 128,000 units760,700115,50031Bal., ? units, 1//2 completed115,500a. Determine the number of units in work in process inventory at December 31 .b. Determine the equivalent units of production for direct materials and conversion costs in December.
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, 3/4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1/2 completed 115,500...
Costs per Equivalent Unit The following information concerns production in the Baking Department for December. All direct materials are placed in process at the beginning of production ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 1 Bal., 24,000 units, completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., 2 units, completed 115,500 a. Based...
beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Dec. 18,072 277,272 259,200 75,690 352,962 1 Bal., 7,200 units, 3/5 completed 31 Direct materials, 129,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 131,400 units 31 Bal., ? units, 4/5 completed 42,570 380,844 395,532 14,688 14,688 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials...
ACCOUNT Work in Process-Roasting Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 69,966 Dec. 1 Bal., 16,900 units, 25% completed 31 Direct materials, 292,400 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 294,900 units 31 Bal., 2 units, 75% completed Required: 687,140 391,474 563,340 757,105 1,148,580 1,711,920 Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process-Roasting Department. Assume that direct materials are placed in process...
L ACCOUNT Work in Process-Baking Department e process at the beginning ACCOUNT NO. hive Date Item Balance Debit Credit Debit Credit Mar. 1 Bal., 6,600 units, 2/3 completed 7,040 31 Direct materials, 118,800 units 190,080 197,120 31 Direct labor 52,840 249,960 31 Factory overhead 29,718 279,678 31 Goods finished, 120,300 units 270,090 9,588 31 Bal. 7 units, 2/5 completed 9,588 a. Determine the lumber of units in work in process inventory at March 31 Did you know the lack of...
-Rosting ACCOUNT Work in Proc Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit 79,232 225 9cs 854,940 Dec. Bal., 17.400 units, 7555 completed Direct materias, 307,500 units 31 Direct labor 31 Factory overhead Goods transferred, 310,600 422,037 608,473 1,277,777 1,806,250 31 Bal., 7 units, 255s completed Required: Prepare a cost of production report, using the weighted average method, and identify the missing amounts for Work in Process Roasting Department. Assume that direct materials are placed in process during...
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