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

ekkarill92 answered 2 years ago
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