Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Mar. | 1 | Bal., 8,400 units, 4/5 completed | 22,512 | ||||||
| 31 | Direct materials, 151,200 units | 302,400 | 324,912 | ||||||
| 31 | Direct labor | 85,880 | 410,792 | ||||||
| 31 | Factory overhead | 48,310 | 459,102 | ||||||
| 31 | Goods finished, 153,300 units | 444,234 | 14,868 | ||||||
| 31 | Bal. ? units, 2/5 completed | 14,868 | |||||||
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. | $ |
| 2. Conversion cost per equivalent unit. | $ |
| 3. Cost of the beginning work in process completed during March. | $ |
| 4. Cost of units started and completed during March. | $ |
| 5. Cost of the ending work in process. | $ |
Homework Answers
Answer a(1):
Direct materials cost per equivalent unit = cost of direct material added / quantity of direct material added
= 302,400 / 151,200
= $2
Direct materials cost per equivalent unit = $2
Answer a(2):
Finished goods cost per equivalent unit = 444,234 / 153,300 = $2.90
Conversion cost per equivalent unit = Finished goods cost per equivalent unit - Direct materials cost per equivalent unit.
= $2.90 - $2
= $0.90
Conversion cost per equivalent unit = $0.90
Answer a(3):
Beginning inventory had 8,400 units and 4/5 of conversion was completed.
During March balance 1/5th conversion of 8400 units was completed. Cost for the same = 1/5 * 8400 * 0.90 = $1512
Cost of the beginning work in process completed during March = 22512 + 1512 = $24,024
Answer a(4):
Cost of units started and completed during March = cost of finished goods transferred - Cost of the beginning work in process completed during March
= 444,234 - 24024
= $420,210
Cost of units started and completed during March = $420,210
Answer a(4):
Cost of the ending work in process = $14,868
Add Answer to:
Costs per Equivalent Unit
The following information concerns production in the Baking
Department for March. All...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 4,200 units, 3/5 completed 10,542 31 Direct materials, 75,600 units 151,200 161,742 31 Direct labor 43,370 205,112 31 Factory overhead 24,400 229,512 31 Goods finished, 76,500 units 221,724 7,788 31 Bal. ? units, 2/5 completed 7,788...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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., 5,100 units, 3/5 completed 10,149 31 Direct materials, 91,800 units 146,880 157,029 31 Direct labor 40,990 198,019 31 Factory overhead 23,060 221,079 31 Goods finished, 93,000 units 213,747 7,332 31 Bal. ? units, 2/5 completed 7,332...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 4,800 units, 2/5 completed 7,296 31 Direct materials, 86,400 units 112,320 119,616 31 Direct labor 33,730 153,346 31 Factory overhead 18,974 172,320 31 Goods finished, 87,600 units 166,344 5,976 31 Bal. ? units, 3/5 completed 5,976...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. 14,307 219,507 205,200 59,440 1 Bal., 5,700 units, 3/5 completed 31 Direct materials, 102,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 104,100 units 31 Bal. ? units, 3/5 completed 33,440 278,947 312,387 10,668 301,719 10,668...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 6,600 units, 2/5 completed 15,444 31 Direct materials, 118,800 units 237,600 253,044 31 Direct labor 68,950 321,994 31 Factory overhead 38,780 360,774 31 Goods finished, 120,300 units 348,738 12,036 31 Bal. ? units, 2/5 completed 12,036...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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., 7,500 units, 2/5 completed 12,150 31 Direct materials, 135,000 units 189,000 201,150 31 Direct labor 53,130 254,280 31 Factory overhead 29,886 284,166 31 Goods finished, 136,800 units 273,450 10,716 31 Bal units, 4/5 completed 10,716 ....
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 9,000 units, 3/5 completed 15,570 31 Direct materials, 162,000 units 226,800 242,370 31 Direct labor 63,060 305,430 31 Factory overhead 35,472 340,902 31 Goods finished, 164,100 units 327,930 12,972 31 Bal. ? units, 4/5 completed 12,972...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 9,300 units, 4/5 completed 16,182 31 Direct materials, 167,400 units 217,620 233,802 31 Direct labor 63,890 297,692 31 Factory overhead 35,938 333,630 31 Goods finished, 169,500 units 321,678 11,952 31 Bal. ? units, 3/5 completed 11,952...
Costs per Equivalent Unit The following information concerns production in the Baking Department for March. All...
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. 12,000 1 Bal., 7,200 units, 2/3 completed 31 Direct materials, 129,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 131,400 units 31 Bal. ? units, 3/5 completed 168,480 49,860 28,044 180,480 230,340 258,384 249,420 8,964 8,964...
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...
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., 5,100 units, 3/5 completed 10,149 31 Direct materials, 91,800 units 146,880 157,029 31 Direct labor 40,990 198,019 31 Factory overhead 23,060 221,079 31 Goods finished, 93,000 units 213,747 7,332 31 Bal. ? units, 2/5 completed 7,332...
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. 14,307 219,507 205,200 59,440 1 Bal., 5,700 units, 3/5 completed 31 Direct materials, 102,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 104,100 units 31 Bal. ? units, 3/5 completed 33,440 278,947 312,387 10,668 301,719 10,668...
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., 7,500 units, 2/5 completed 12,150 31 Direct materials, 135,000 units 189,000 201,150 31 Direct labor 53,130 254,280 31 Factory overhead 29,886 284,166 31 Goods finished, 136,800 units 273,450 10,716 31 Bal units, 4/5 completed 10,716 ....
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. 12,000 1 Bal., 7,200 units, 2/3 completed 31 Direct materials, 129,600 units 31 Direct labor 31 Factory overhead 31 Goods finished, 131,400 units 31 Bal. ? units, 3/5 completed 168,480 49,860 28,044 180,480 230,340 258,384 249,420 8,964 8,964...
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