FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- The Mixing Department of It Was Fresh Bakery had 50,500 units to account for in October. Of the 50,500 units, 40,400 units were completed and and transferred to the next department, and 10,100 units were 35% complete. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process.(Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. Compute the total equivalent units of production for direct materials and conversion costs for October. The Mixing Department for It Was Fresh Bakery has direct materials costs totaling $49,100 and conversions cost of $29,300 for October.2. Compute the cost per equivalent unit of production for direct materials and for conversion costs.arrow_forwardThe Converting Department of Comfy Touch Towel and Tissue Company had 2,600 units in work in process at the beginning of the period, which were 35% complete. During the period, 23,800 units were completed and transferred to the Packing Department. There were 7,400 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank. Comfy Touch Towel and Tissue Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Equivalent Units Conversion Equivalent Unitsarrow_forwardThe Mixing Department of Foods for You had 50,000 units to account for in October. Of the 50,000 units, 15,000 units were completed and transferred to the next department, and 35,000 units were 45% complete for conversion work. All of the materials are added at the beginning of the process. Conversion costs are added evenly throughout the mixing process and the company uses the weighted-average method. Compute the total equivalent units of production for direct materials and conversion costs for October. Foods for You Production Cost Report - Mixing Department (Partial) Month Ended October 31 UNITS Units accounted for: Completed and transferred out Ending work-in-process Total units accounted for Physical Units 15,000 35,000 50,000 Equivalent Units Direct Materials 15,000 35,000 50,000 Conversion Costs 15,000 15000 35000 ...arrow_forward
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