Question
In: Accounting
1) . Costs per Equivalent Unit Georgia Products Inc. completed and transferred 185,000 particle board units...
1) . Costs per Equivalent Unit
Georgia Products Inc. completed and transferred 185,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending in-process inventory was 16,000 units, which were 1/2 complete as to conversion cost. All materials are added at the beginning of the process. Direct materials cost incurred was $522,600, direct labor cost incurred was $109,430, and factory overhead applied was $25,670.
Determine the following for the Pressing Department. Round "cost per equivalent unit" answers to the nearest cent.
| a. Total conversion cost | $ |
| b. Conversion cost per equivalent unit | $ |
| c. Direct materials cost per equivalent unit |
$ |
2)
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. | ||||||||
| Date | Item | Debit | Credit | Balance | |||||
| Debit | Credit | ||||||||
| Mar. | 1 | Bal., 6,900 units, 4/5 completed | 15,318 | ||||||
| 31 | Direct materials, 124,200 units | 211,140 | 226,458 | ||||||
| 31 | Direct labor | 55,350 | 281,808 | ||||||
| 31 | Factory overhead | 31,128 | 312,936 | ||||||
| 31 | Goods finished, 126,000 units | 302,124 | 10,812 | ||||||
| 31 | Bal. ? units, 3/5 completed | 10,812 | |||||||
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. | $ |
Solutions
Expert Solution
| 1 | |||
| a. Total conversion cost = 109430+25670= $135100 | |||
| b | |||
| Equivalent units = 185000+(16000*1/2)= 193000 | |||
| Conversion cost per equivalent unit = 135100/193000= $0.7 | |||
| c | |||
| Equivalent units = 185000+16000= 201000 | |||
| Conversion cost per equivalent unit = 522600/201000= $2.6 | |||
| 2 | |||
| Equivalent Units | |||
| Whole Units | Direct Materials | Conversion | |
| Inventory in process, March 1 | 6900 | 0 | 1380 |
| Started and completed in March | 119100 | 119100 | 119100 |
| Transferred to Packing Department in March | 126000 | 119100 | 120480 |
| Inventory in process, March 31 | 5100 | 5100 | 3060 |
| Total units to be assigned costs | 131100 | 124200 | 123540 |
| Cost Information | |||
| Costs per equivalent unit: | |||
| Direct Materials | Conversion | ||
| Total costs for March in Baking Department | 211140 | 86478 | |
| Total equivalent units | 124200 | 123540 | |
| Cost per equivalent unit | 1.7 | 0.7 | |
| Costs charged to production: | |||
| Direct Materials | Conversion | Total | |
| Inventory in process, March 1 | 15318 | ||
| Costs incurred in March | 297618 | ||
| Total costs accounted for by the Baking Department | 312936 | ||
| Cost allocated to completed and partially completed units: | |||
| Inventory in process, March 1 balance | 15318 | ||
| To complete inventory in process, March 1 | 0 | 966 | 966 |
| Cost of completed March 1 work in process | 16284 | ||
| Started and completed in March | 202470 | 83370 | 285840 |
| Transferred to Packing Department in March | 302124 | ||
| Inventory in process, March 31 | 8670 | 2142 | 10812 |
| Total costs assigned by the Baking Department | 312936 | ||
| 1. Direct materials cost per equivalent unit $1.7 | |||
| 2. Conversion cost per equivalent unit $0.7 | |||
| 3. Cost of the beginning work in process completed during March $16284 | |||
| 4. Cost of units started and completed during March $285840 | |||
| 5. Cost of the ending work in process $10812 | |||
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