FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

bartleby

Concept explainers

Topic Video
Question

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.

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 December

4.  Cost of units started and completed during December

5.  Cost of the ending work in process

b.  Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same 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
Date
Dec.
Item
1 Bal., 4,800 units, 2/5 completed
31 Direct materials, 86,400 units
31 Direct labor
31 Factory overhead
31 Goods finished, 87,600 units
31 Bal., ? units, 2/5 completed
Debit
146,880
39,030
21,954
Credit
210,144
ACCOUNT NO.
1. Direct materials cost per equivalent unit
2. Conversion cost per equivalent unit
3. Cost of the beginning work in process completed during December
4. Cost of units started and completed during December
5. Cost of the ending work in process
Balance
Debit
9,408
156,288
195,318
217,272
7,128
7,128
Credit
a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the
nearest cent.
b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per
equivalent unit increase, decrease, or remain the same in December?
expand button
Transcribed Image Text: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 Date Dec. Item 1 Bal., 4,800 units, 2/5 completed 31 Direct materials, 86,400 units 31 Direct labor 31 Factory overhead 31 Goods finished, 87,600 units 31 Bal., ? units, 2/5 completed Debit 146,880 39,030 21,954 Credit 210,144 ACCOUNT NO. 1. Direct materials cost per equivalent unit 2. Conversion cost per equivalent unit 3. Cost of the beginning work in process completed during December 4. Cost of units started and completed during December 5. Cost of the ending work in process Balance Debit 9,408 156,288 195,318 217,272 7,128 7,128 Credit a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December?
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education