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

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 24,000 units, 3⁄4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1⁄2 completed 115,500 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 December $ 4. Cost of units started and completed during December $ 5. Cost of the ending work in process $ b. Assuming that the direct materials cost is the same for November and December, did the conversion cost per equivalent unit increase, decrease, or remain the same in December? Increase

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UNITS TO ACCOUNT FOR:
Beginning Work in Process units 24,000
Add: Units Started in Process 134,000
Total Units to account for: 158,000
UNITS TO BE ACCOUNTED FOR:
Units completed from Beginning WIP 24,000
Units started and completed 104,000
Ending Work in Process 30,000
Total Units to be accounted for: 158,000
Equivalent Units:
UNITS Material Cost Conversion
% Completion Units % Completion Units
Units completed from Beginning WIP 24000 0% 0 25% 6,000
Units Started and completed 104000 100% 104,000 100% 104,000
Ending Work in Process 30000 100% 30,000 50% 15,000
Total Equivalent units 158000 134,000 125,000
TOTAL COST TO ACCOUNT FOR:
Material Conversion
Cost Added during May 234,500 525,000
Total Cost to account for: 234,500 525,000
Equivalent Units 134,000 125,000
Cost per Equivalent unit 1.75 4.2
TOTAL COST ACCOUNTED FOR:
Units completed from Beginning WIP (24000 units)
Equivalent unit Cost per EU Total Cost
Beginning cost 116700
Material 0 1.75 0
Conversion Cost 6,000 4.2 25200
Total cost of units completd frm Beginning WIP 141900
Units started and completed (104000 units)
Equivalent unit Cost per EU Total Cost
Material 104,000 1.75 182000
Conversion Cost 104,000 4.2 436800
Total Cost of Units completed and transferred out: 618800
cost of units transferred out 760700
Ending Work in process (30000 units)
Equivalent unit Cost per EU Total Cost
Material 30,000 1.75 52500
Conversison Cost 15,000 4.2 63000
Total cost of Ending Work in process: 115,500
Total cost accounted for 876,200
Material cost per EUP 1.75
Conversion cost per EUP 4.2
cost of beginning WIP 141900
cost of units started and completed 618800
cost of endidng WIP 115500
Total beginning WIP 116700
Less: Material (24000*1.75 42000
Conversion cost in Beginning WIP 74700
Divide: EUP of conversion cost (24000*75%) 18000
Conversion cost per EUP 4.15

ekkarill92 answered 2 years ago
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