Homework Answers
a.
| Equivalent Units | |||
| Physical units | Material | Conversion | |
| Beginning inventory | 18,000 | 0 | 13,500 |
| Started and completed (330,000-18,000) | 312,000 | 312,000 | 312,000 |
| Ending inventory (18,000+336,000-330,000) | 24,000 | 24,000 | 9,600 |
| Total | 354,000 | 336,000 | 335,100 |
| Material | Conversion | |
| Cost incurred in March | $252,000 | $100,530 |
| Equivalent units | 336,000 | 335,100 |
| Cost per equivalent unit | $0.75 | $0.3 |
| Cost of beginning work in process | |
| Beginning balance | $14,760 |
| Cost incurred in March (13,500*$0.3) | 4,050 |
| Cost of beginning work in process completed during March | 18,810 |
| Cost of units started and completed during March: | |
| Material (312,000*$0.75) | 234,000 |
| Conversion (312,000*$0.3) | 93,600 |
| Cost of units started and completed during March | $327,600 |
| Cost of ending work in process: | |
| Material (24,000*$0.75) | 18,000 |
| Conversion (9,600*$0.3) | 2,880 |
| Cost of ending work in process | $20,880 |
b.
Conversion cost per unit in February = $14,760 - (18,000*$0.75) = $1,260 / 4,500 (18,000*1/4) = $0.28
Conversion cost per unit increased in March by $0.02 ($0.30-0.28)
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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 Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Credit Debit 14,760 Mar. 1 Bal., 18,000 units, 1/4 completed 31 Direct materials, 336,000 units 31 Direct labor 252,000 40,000 266,760 306,760 31 Factory overhead 60,530 367,290 31 Goods finished, 330,000 units 346,410 20,880 31 Bal 2 units, 2/5 completed 20,880...
cost per equivalent unit. The following information concerns production in the Baking Department for March. All...
cost 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. Need help
with #3
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 Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 18,000 units, 1/4 completed 14,760...
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The following information concerns production in the Baking Department for March. All direct materials are placed...
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 Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 18,000 units, 1⁄4 completed 14,760 31 Direct materials, 336,000 units 252,000 266,760 31 Direct labor 40,000 306,760 31 Factory overhead 60,530 367,290 31 Goods finished, 330,000 units 346,410 20,880 31 Bal. ? units, 2⁄5 completed 20,880 a. Based on the...
he following information concerns production in the Baking Department for March. All direct materials are placed...
he 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 Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 18,000 units, 1?4 completed 14,760 31 Direct materials, 336,000 units 252,000 266,760 31 Direct labor 40,000 306,760 31 Factory overhead 60,530 367,290 31 Goods finished, 330,000 units 346,410 20,880 31 Bal. ? units, 2?5 completed 20,880 a. Determine the number...
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Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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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 Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Credit Debit 14,760 Mar. 1 Bal., 18,000 units, 1/4 completed 31 Direct materials, 336,000 units 31 Direct labor 252,000 40,000 266,760 306,760 31 Factory overhead 60,530 367,290 31 Goods finished, 330,000 units 346,410 20,880 31 Bal 2 units, 2/5 completed 20,880...
cost 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. Need help
with #3
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 Process-Baking Department ACCOUNT NO. Balance Date Item Debit Credit Debit Credit Mar. 1 Bal., 18,000 units, 1/4 completed 14,760...
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