FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Introduction te X
Math Fundam x
O The Finance St X
Foundations o x C Seafood - Eat X G
Wakefield, Rhc X
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Chapter 17 Homework
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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
ACCOUNT NO.
Date
Item
Balance
Debit
Credit
Debit
Credit
Dec.
1 Bal., 8,700 units, 2/5 completed
19,140
31 Direct materials, 156,600 units
297,540
316,680
31 Direct labor
82,180
398,860
31 Factory overhead
46,220
445,080
31 Goods finished, 158,700 units
428,316
16,764
31 Bal., ? units, 4/5 completed
* 16,764
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 Decembe
Increase
Check My Work
Pr
%24
%24
%24
%24
Transcribed Image Text:Introduction te X Math Fundam x O The Finance St X Foundations o x C Seafood - Eat X G Wakefield, Rhc X Login A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false CengageNOW Chapter 17 Homework eВook Show Me How 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 ACCOUNT NO. Date Item Balance Debit Credit Debit Credit Dec. 1 Bal., 8,700 units, 2/5 completed 19,140 31 Direct materials, 156,600 units 297,540 316,680 31 Direct labor 82,180 398,860 31 Factory overhead 46,220 445,080 31 Goods finished, 158,700 units 428,316 16,764 31 Bal., ? units, 4/5 completed * 16,764 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 Decembe Increase Check My Work Pr %24 %24 %24 %24
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