ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Debit Debit Credit Credit Date Item Bal., 18,000 units, 4 completed 31 Direct materials, 336,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 330,000 units Bal. ? units, % completed 14,760 266,760 306,760 Mar. 1 252,000 40,000 60,530 367,290 346,410 20,880 20,880 31

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

a. Based on the data in Exercise 20-7 (Attachment), determine the following for March:
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?

ACCOUNT Work in Process-Baking Department
ACCOUNT NO.
Balance
Debit
Debit
Credit
Credit
Date
Item
Bal., 18,000 units, 4 completed
31
Direct materials, 336,000 units
31
Direct labor
31
Factory overhead
31
Goods finished, 330,000 units
Bal. ? units, % completed
14,760
266,760
306,760
Mar. 1
252,000
40,000
60,530
367,290
346,410
20,880
20,880
31
Transcribed Image Text:ACCOUNT Work in Process-Baking Department ACCOUNT NO. Balance Debit Debit Credit Credit Date Item Bal., 18,000 units, 4 completed 31 Direct materials, 336,000 units 31 Direct labor 31 Factory overhead 31 Goods finished, 330,000 units Bal. ? units, % completed 14,760 266,760 306,760 Mar. 1 252,000 40,000 60,530 367,290 346,410 20,880 20,880 31
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 6 steps with 6 images

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education