Costs per Equivalent Unit The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item August 1 Bal., 36,000 units, 3/4 completed 207,360 31 Direct materials, 200,000 units 657,360 31 Direct labor 865,260 31 Factory overhead 1,545,660 31 Goods finished, 196,000 units 184,000 31 Bal., 2 units, 1/2 completed 184,000 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" nit" 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 August 4. Cost of units started and completed during August 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per equivalent unit increase, decrease, or remain the sa Increase Debit Feedback Credit 450,000 207,900 680,400 Balance Balance Debit Credit 1,361,660

Costs per Equivalent Unit The following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Date Item August 1 Bal., 36,000 units, 3/4 completed 207,360 31 Direct materials, 200,000 units 657,360 31 Direct labor 865,260 31 Factory overhead 1,545,660 31 Goods finished, 196,000 units 184,000 31 Bal., 2 units, 1/2 completed 184,000 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" nit" 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 August 4. Cost of units started and completed during August 5. Cost of the ending work in process b. Assuming that the direct materials cost is the same for July and August, did the conversion cost per equivalent unit increase, decrease, or remain the sa Increase Debit Feedback Credit 450,000 207,900 680,400 Balance Balance Debit Credit 1,361,660

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Description: Costs per Equivalent UnitThe following information concerns production in the Baking Department for August. All direct materials are placed in process at the beginning of production.ACCOUNT Work in Process-Baking DepartmentACCOUNT NO.DateItemAugust

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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