The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning ofproduction.ACCOUNT Work in Process-Baking DepartmentDate ItemMar.DebitCredit483,200110,180165,022742,340ACCOUNT NO.1 Bal., 32,800 units, 14 completed31 Direct materials, 604,000 units31 Direct labor31 Factory overhead31 Goods finished, 594,200 units31 Bal. 2 units, ¾/s completeda. 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 unit2. Conversion cost per equivalent unit3. Cost of the beginning work in process completed during March4. Cost of units started and completed during March5. Cost of the ending work in processBalanceDebitCredit29,520512,720622,900787,92245,58245,5821000

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Description: The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning ofproduction.ACCOUNT Work in Process-Baking DepartmentDate ItemMar.DebitCredit483,200110,180165,022742,340A

Process costing is a method of cost accounting, which is used where there is continuous production…

Business

Accounting

production. Date Mar. ACCOUNT Work in Process-Baking Department Item 1 Bal., 32,800 units, 1/4 completed 31 Direct materials, 604,000 units 31 Direct labor Debit Credit 483,200 110,180 165,022 ACCOUNT NO. 742,340 Balance 29,520 512,720 622,900 31 Factory overhead 787,922 31 Goods finished, 594,200 units 45,582 31 Bal. 2 units, ¾/ completed 45,582 1. 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 4. Cost of units started and completed during March 5. Cost of the ending work in process Debit Credit

production. Date Mar. ACCOUNT Work in Process-Baking Department Item 1 Bal., 32,800 units, 1/4 completed 31 Direct materials, 604,000 units 31 Direct labor Debit Credit 483,200 110,180 165,022 ACCOUNT NO. 742,340 Balance 29,520 512,720 622,900 31 Factory overhead 787,922 31 Goods finished, 594,200 units 45,582 31 Bal. 2 units, ¾/ completed 45,582 1. 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 4. Cost of units started and completed during March 5. Cost of the ending work in process Debit Credit

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 7E: The following information concerns production in the Baking Department for December. All direct...

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