Question

Print Item Equivalent Units of Production and Related Costs The charges to Work in Process-Baking Department for a period as well as information concerning production are as follows. The Baking all direct materials are placed in process during production. Work in Process-Baking Department Bal, 900 units, 40% completed Direct materials, 8,400 units Direct labor Factory overhead Bal, 1,200 units, 60% completed a. Determine the number of whole units to be accounted for and to be assigned costs. 2,466 To Finished Goods, 8,100 units 34, 8,574 units b. Determine the number of equivalent units of production units C. Determine the cost per equivalent unit. per equivalent unit d. Determine the cost of units transferred to Finished Goods. e. Determine the cost of units in ending Work in Process Previous Next Check My Work Save and Exit Submit Assignment for Grading

Answer 1

Requirement a

Whole units = 9300

Requirement b

Equivalent units=8820

Requirement c

Cost per Equivalent unit=$7.10

Requirement d

Cost of units transferred out=$57,527

Requirement e

Cost of Ending inventory=$ 5,113

.

Working

Reconciliation of Units
A	Opening WIP	900
B	Introduced	8,400
C=A+B	TOTAL	9,300
D	Transferred	8,100
E=C-D	Closing WIP	1,200

Statement of Equivalent Units
	Units	Complete %	Equivalent units
Transferred	8,100	100%	8,100
Closing WIP	1,200	60%	720
Total	9,300	Total	8,820

Cost per Equivalent Units
COST		Total
Beginning WIP Inventory Cost		$               2,466
Cost incurred during period		$             60,174
Total Cost to be accounted for		$             62,640
Total Equivalent Units		8,820
Cost per Equivalent Units		$                 7.10

Statement of cost
Cost	Equivalent Cost/unit	Ending WIP		Transferred
		Units	Cost Allocated	Units	Cost Allocated
Total	$ 7.10	720	$      5,113.47	8,100	$    57,526.53
TOTAL	$           62,640	TOTAL	$            5,113	TOTAL	$          57,527