ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...

ACCOUNT Work in Process—Baking Department					ACCOUNT NO.
Date		Item	Debit	Credit	Balance
Date		Item	Debit	Credit	Debit	Credit
Mar.	1	Bal., 7,200 units, 4/5 completed			12,528
	31	Direct materials, 129,600 units	168,480		181,008
	31	Direct labor	49,490		230,498
	31	Factory overhead	27,838		258,336
	31	Goods finished, 131,400 units		249,372	8,964
	31	Bal. ? units, 3/5 completed			8,964

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	$
4. Cost of units started and completed during March	$
5. 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?

Solutions

Expert Solution

	Equivalent	Units
	Whole Units	Direct Materials	Conversion
Inventory in process, March 1	7200	0	1440
Started and completed in March	124200	124200	124200
Transferred to Packing Department in March	131400	124200	125640
Inventory in process, March 31	5400	5400	3240
Total units to be assigned costs	136800	129600	128880

Cost Information
Costs per equivalent unit:
	Direct Materials	Conversion
Total costs for March in Baking Department	168,480	77,328
Total equivalent units	129600	128880
Cost per equivalent unit	1.3	0.6

Costs charged to production:
	Direct Materials	Conversion	Total
Inventory in process, March 1			12,528
Costs incurred in March			245,808
Total costs accounted for by the Baking Department			258,336
Cost allocated to completed and partially completed units:
Inventory in process, March 1 balance			12,528
To complete inventory in process, March 1	0	864	864
Cost of completed March 1 work in process			13,392
Started and completed in March	161,460	74,520	235,980
Transferred to Packing Department in March			249,372
Inventory in process, March 31	7,020	1,944	8,964
Total costs assigned by the Baking Department			258,336

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 $13,392
4
Cost of units started and completed $235,980
5
Cost of ending work in process $8,964

b [12,528 - (7,200*1.3)] = 3,168
3,168 / (7,200 * 4/5) = 0.55
New rate = 0.60
Increase

ekkarill92 answered 1 year ago

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