Question: suzy q bakery makes donuts in two departments baking and...
Suzy Q Bakery makes donuts in two departments, baking and packaging. Labor and manufacturing overhead (conversion costs) are incurred uniformly through both processes. Materials are entered at the beginning of the baking process. The baking department had the following production and cost data for May 2018.
Beginning work in process 4,000 dozen donuts
Started into production 21,000 dozen donuts
Ending work in process 5,000 dozen donuts (40% complete)
Beginning work in process inventory $22,000
(consisting of $8,000 materials and $14,000 conversion costs)
Costs added during May include:
Conversion Costs $118,000
Total Costs $222,000
Complete all 5 steps of process costing and show all calculations.