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Equivalent Units of Production The following information concerns production in the Baking Department for March. All...
Equivalent Units of Production The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Date Debit Item Credit Debit Credit 1 Bal., 5,100 units, 3/5 completed March 14,280 31 Direct materials, 91,800 units 128,520 142,800 31 Direct labor 35,440 178,240 31 Factory overhead 19,928 198,168 31 Goods finished, 93,000 units 191,304 6,864 31 Bal. 7 units, 3/S completed 6,864 a. Determine the number of units in work in process inventory at March 31 units b. Determine the equivalent units of production for direct materials and conversion costs in March. 1If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs Check My Work Next Previous
31 Factory overhead 19,928 198,168 31 Goods finished, 93,000 units 191,304 6,864 31 Bal. ? units, 3/5 completed 6,864 a. Determine the number of units in work in process inventory at March 31. units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in "0". Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Direct Materials Conversion Equivalent Units Whole Units Equivalent Units Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total Next Previous Check My Work All work saved. Submit Assignment for Grading Email Instructor Save and Exit
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Credit Debit Date Item Debit Credit 1 Bal., 8,100 units, 4/5 completed 14,094 Mar 189,540 203,634 31 Direct materials, 145,800 units 259,274 31 Direct labor 55,640 31 Factory overhead 31,300 290,574 10,458 280,116 31 Goods finished, 147,600 units 10,458 31 Bal. ? units, 3/5 completed 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 March 10,458 4. Cost of units started and completed during March 20,574 s. Cost of the ending work in process b. Assuming that the direct materials cost is the same for February and March, did the conversion cost per equivalent unit increase, decrease, or remain the same in March? Increase
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Question-1 a Beginning work in in process units 5100 Add: Units started 91800 Less: Units finished -93000 Units in Work in Process, March 31 3900 b Equivalent units Whole units Direct materials Conversion Inventory in process, March 1 5100 0 2040 =5100*2/5 Started and completed in March 87900 87900 87900 =93000-5100 Transferred to Finished goods in March 93000 87900 89940 Inventory in process, March 31 3900 3900 2340 =3900*3/5 Total 96900 91800 92280 Question-2 Equivalent Units Whole Units Direct Materials Conversion Inventory in process, March 1 8100 0 1620 =8100*1/5 Started and completed in March 139500 139500 139500 =147600-8100 Transferred to Finished goods in March 147600 139500 141120 Inventory in process, March 31 6300 6300 3780 =6300*3/5 Total units to be assigned costs 153900 145800 144900 Cost Information Costs per equivalent unit: Direct Materials Conversion Total costs for March in Baking Department 189540 86940 Total equivalent units 145800 144900 Cost per equivalent unit 1.30 0.60 Costs charged to production: Direct Materials Conversion Total Inventory in process, March 1 14094 Costs incurred in March 276480 Total costs accounted for by the Baking Department 290574 Cost allocated to completed and partially completed units: Inventory in process, March 1 balance 14094 To complete inventory in process, March 1 0 972 972 Cost of completed March 1 work in process 15066 Started and completed in March 181350 83700 265050 Transferred to Finished goods in March 280116 Inventory in process, March 31 8190 2268 10458 Total costs assigned by the Baking Department 290574 1. Direct materials cost per equivalent unit $1.30 2. Conversion cost per equivalent unit $0.60 3. Cost of beginning work in process completed during March $15066 4. Cost of units started and completed during March $265050 5. Cost of the ending work in process $10458 b Conversion cost per equivalent unit prior period = (14094-8100*1.30)/(8100*4/5)= $0.55 Conversion cost per equivalent unit increase
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